Singapore releases CRS Regulatory Changes and Guidance

On 4 April 2017 and 10 April 2017, the Singapore authorities issued amendments to the Singapore Common Reporting Standard (“CRS”) Regulations (Link) and updates to the Inland Revenue Authority of Singapore (“IRAS”) CRS FAQs (Link) respectively. Updates were made to FAQs C.13, E.21 and E.22.  In addition, a CRS brochure (Link) was released by the IRAS which is intended to assist account holders in understanding CRS.

PwC Singapore has prepared a summary which provides a brief overview of how these changes to the CRS regulations and updated FAQs may impact financial institutions in Singapore in its latest Tax Bulletin.

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