Singapore News

What is CorpPass?
SingaporeCorporateAccess (CorpPass) is a single corporate digital identity for businesses and other entities (e.g. non-profit organisations and associations) to transact online with Government agencies.

 

Owned by the Ministry of Finance and managed by Government Technology Agency (GovTech), CorpPass marks the first time that the Government is rolling out a single corporate digital identity. This creates opportunities for even more services and transactions to be provided online conveniently and securely.
Click HERE to find out if your entity is eligible or click HERE for the list of e-Services / digital services.

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If you log in by 15 Jan 2017
• A one-time grace period of 30 days will be given
• No disruption to online transactions


If you log in from 16 Jan 2017
• No grace period will be given
• Wait for 7-10 work days to set up 2FA before you can transact online


>> Save the hassle. Log in to your SingPass account & set up your 2FA today.

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The Inland Revenue Authority of Singapore ("IRAS") and Her Majesty’s Revenue and Customs ("HMRC") signed a Competent Authority Agreement ("Agreement") on the automatic exchange of financial account information ("AEOI") based on the Common Reporting Standard ("CRS") on 16 Sep 2016.

 

The CRS is an internationally agreed standard for AEOI, endorsed by OECD and Global Forum for Transparency and Exchange of Information for Tax Purposes ("GF"). More than 100 jurisdictions have endorsed the CRS and will commence AEOI in either 2017 or 2018.

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The Inland Revenue Authority of Singapore (“IRAS”) and the Australian Taxation Office (“ATO”) have entered into a Competent Authority Agreement (“Agreement”) on the automatic exchange of financial account information (“AEOI”) based on the Common Reporting Standard (“CRS”). The CRS is an internationally agreed standard for AEOI, endorsed by OECD and Global Forum for Transparency and Exchange of Information for Tax Purposes (“GF”). More than 100 jurisdictions have endorsed the CRS and will commence AEOI in either 2017 or 2018.

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Singapore signed an Agreement for the Avoidance of Double Taxation (DTA) with Ethiopia on 24 August 2016. The signing took place in Singapore between Minister for Trade and Industry (Industry) Mr S. Iswaran and Ethiopia’s Minister of Foreign Affairs, Tedros Adhanom.

 

The DTA clarifies the taxing rights of both countries on all forms of income flows arising from cross-border business activities, and minimises the double taxation of such income. This will lower barriers to cross-border investment and boost trade and economic flows between the two countries.

 

The DTA will enter into force after its ratification by both countries. The full text of the DTA is available HERE.

 

Source: MOF