Singapore signs automatic exchange of financial account information in tax matters with Italy and Canada

Singapore continues its commitment to implement the Common Reporting Standard (CRS). Singapore-based financial institutions will be required to transmit to tax authorities CRS information of their account holders who are tax residents of jurisdictions that Singapore has a Competent Authority Agreement for CRS with.

It's most recent agreements are with Italy and Canada, signed on November 8 and 16, respectively. As of latest agreements, the first exchange of information is also scheduled for September 2018.