Singapore: Updated e-tax guide under CRS 2.0
Key updates to the CRS guidance
The Inland Revenue Authority of Singapore (IRAS) on August 11, 2026, issued the fifth edition of its CRS e-tax guide to reflect the OECD’s amended CRS 2.0.
The key updates to the guidance include the following:
- Overview and legislative implementation
- Gross income test
- Expanded scope of financial assets
- Expanded scope of depository institutions and depository accounts
- Non-reporting financial institutions
- New categories of excluded accounts
- Account classifications
- Enhanced due diligence procedures
- Enhanced reporting requirements
- Exemption from duplicate reporting
- Nil return requirement for trustee-documented trusts (TDTs)
Read an August 2026 report prepared by the KPMG member firm in Singapore