Singapore inks agreements on tax-information exchange

Singapore

SINGAPORE inked two agreements in the Netherlands on Wednesday, signifying that it has moved a step further in its commitment to automatically exchange tax information with other jurisdictions, under global efforts to address issues such as tax evasion and tax avoidance.

The two agreements, known as Multilateral Competent Authority Agreements (MCAAs), will facilitate the Automatic Exchange of Information (AEOI), which Singapore has agreed to implement next year under the internationally agreed framework known as the common reporting standard (CRS).