Post by Soutpeel on Jul 18, 2017 13:14:08 GMT 7
If anyone "offshore banks" in Singapore and doesnt know already from 2018 Singapore has been pulled into common reporting standard racket and will be reporting your bank account details to various tax men from 2018 onwards,
just been provided a form via the bank from the Singapore tax man to state my TINs (tax identfication numbers) in my case Thailand and Bangldesh
Good news is Singapore will only report to countries they have gone into agreement with which is only 25 of the stated 144 countries and neither Thailand or Bangladesh are signatories to this agreement currently
Initally i believed they would only report to your home country ie nationality based, but it appears you will be reported to all jurisdictions your resident for tax purposes in
Further if you dont fill the form in these is provision to freeze your account(s)
just been provided a form via the bank from the Singapore tax man to state my TINs (tax identfication numbers) in my case Thailand and Bangldesh
Good news is Singapore will only report to countries they have gone into agreement with which is only 25 of the stated 144 countries and neither Thailand or Bangladesh are signatories to this agreement currently
Initally i believed they would only report to your home country ie nationality based, but it appears you will be reported to all jurisdictions your resident for tax purposes in
Further if you dont fill the form in these is provision to freeze your account(s)
