The Era Of Greater Tax Transparency: The Foreign Account Tax Compliance Act ("FATCA") And The Common Reporting Standard ("CRS")
09 July 2021
It has been a few years since FATCA and CRS took effect in Singapore and wider afield; yet it remains a significant focus for tax authorities across the world as it encompasses, and arguably underpins, the move towards greater tax transparency at the current forefront of the international tax landscape.
Reflecting back, locally here in Singapore, Financial Institutions have just completed their 7th year of FATCA filings and 4th year of CRS filings at the end of last month. Thus, the question at the forefront of everyone’s minds is – what is next? Download the tax alert to learn more.