News: The report on the work of US companies requires in Singapore

Singapore’s Internal Revenue Agency is currently accepting FATCA reports for the reporting year 2018 and recently released a FATCA report excluding 2018 earnings.

As stated in the official press release of the regulator, all reporting financial institutions in Singapore must submit a FATCA declaration to the IRAS indicating the necessary information for each reporting account in the United States, which was maintained in the 2018 calendar year, no later than May 31, 2019.

The IRAS said that financial reporting institutions should try to submit their FATCA declarations by May 15, 2019. It is done to allocate enough time in case of unforeseen problems. Zero returns must be filed by those reporting agencies that did not have any reporting accounts in the United States.

Law and Trust International Company provides an opportunity to register a company in Singapore. Please check with our lawyers about the cost of registration and its features.