The Inland Revenue Authority of Singapore has published updated e-Tax Guides regarding financial account reporting requirements under the OECD Common Reporting Standard (CRS) and the U.S. Foreign Account Tax Compliance Act (FATCA). IRAS e-Tax Guide Common Reporting Standard (Second Edition) 1 Aim 1.1 The Common Reporting Standard (CRS) is an internationally agreed standard for the automatic exchange of financial account information between jurisdictions for tax purposes, to better combat tax evasion and ensure tax compliance. 1.2 Singapore has committed to implement the CRS, with the first exchange of financial account information relating to calendar year 2017 having taken place in...