Income Tax – UK is the second country who has entered into a Competent Authority of Agreement with Singapore


It was announced on IRAS’ website that on 16 September 2016, IRAS and the UK Tax Authorities signed a Competent Authority Agreement (“Agreement“) on the automatic exchange of financial account information (“AEOI“) based on the Common Reporting Standard (“CRS“).

 

Singapore and the UK will commence AEOI under the CRS by September 2018. Under this Agreement, IRAS will automatically exchange with the UK Tax Authorities, financial account information of accounts in Singapore held by UK tax residents while the UK Tax Authorities will automatically exchange with IRAS, financial account information of accounts in the United Kingdom held by Singapore tax residents.

If you have any question regarding the above, contact us at support@whm-consulting.com.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s