Singapore: Updated FAQs on CRS; FATCA XML schema | KPMG | US

Singapore: Updated FAQs on CRS; FATCA XML schema implementation

Singapore: Updated FAQs on CRS; FATCA XML schema

The Inland Revenue Authority of Singapore in late December 2016 issued updated “frequently asked questions” (FAQs) as guidance on the implementation of the common reporting standard (CRS) in Singapore.

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Read a January 2017 report [PDF 70 KB] prepared by the KPMG member firm in Singapore

Transition to new FATCA XML schema v2.0

The Inland Revenue Authority of Singapore also in late December 2016 published an announcement that all new, nil, amended, corrected or void FATCA returns, including returns relating to reporting years 2014 and 2015, must be submitted to IRAS using FATCA XML Schema Version 2.0, effective 17 January 2017.

 

Read a January 2017 report [PDF 69 KB] prepared by the KPMG member firm in Singapore

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