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Singapore Updates Guidance on CRS — Orbitax Tax News & Alerts

The Inland Revenue Authority of Singapore (IRAS) published updated guidance regarding the Common Reporting Standard (CRS) and related requirements on 1 February 2023. The main update is a new List of Reportable Jurisdictions for the reporting of 2022 CRS information in 2023. This includes the addition of Ghana, Jamaica, and the Maldives. The deadline for reporting by Singapore financial institutions is 31 May 2023.