ASIAN REGULATORY ROUND UP – SINGAPORE SIGNS KEY FINANCIAL ACCOUNT DATA SWAP DEALS
September 1st, 2016
SINGAPORE has signed deals allowing for the automatic exchange of financial account information with two key trade partners – Britain and Australia. The agreements were struck by the Inland Revenue Authority of Singapore (IRAS) with the UK’s Her Majesty’s Revenue and Customs (HMRC) and the Australian Taxation Office (ATO). They follow the Common Reporting Standard (CRS) developed by the Organisation for Economic Cooperation & Development (OECD) and the related Global Forum for Transparency and Exchange of Information for Tax Purposes. From September ...
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