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Crs Agreement Singapore

The agreement was informally called GATCA (the global version of FATCA),”[1] but `crS is not just an extension of FATCA`. [4] For the purposes of a CRS report, the financial institutions concerned must provide the Internal Revenue Authority of Singapore with financial account information relating to the tax residents of the partners of the competent authorities of Singapore in 2018. IRAS will then exchange the information provided with partners for the automatic exchange of information in Singapore. The CRS MCAA is a multilateral framework agreement based on the Convention. It provides a standardised and efficient mechanism to facilitate the automatic exchange of information on the basis of the CRS. . . .