A competent-authority arrangement under the DTA
Unlike Convention-based arrangements, this agreement relies on Article 26 of the Singapore–Finland income-tax treaty, as amended. It supports automatic exchange of CRS account data, not a new schedule of withholding-tax rates. Institutions identify Finnish-resident holders and relevant controlling persons through CRS due diligence, gathering tax identifiers, account details, balances and applicable payments. Residence and branch-location definitions determine which country’s institutions report.
Separate reporting from authority-to-authority exchange
The authorities exchange 2017 and subsequent-year information within nine months after year-end, conditional on compatible domestic reporting laws. Singapore’s gross proceeds for Finnish custodial accounts begin with 2018 information; other required 2017 data are not excluded by that concession. The authorities agree XML transmission and encryption and cooperate on errors. DTA confidentiality safeguards restrict use of received information and survive termination. Institutions should apply the domestic filing timetable and correct inaccurate residence or identifier data through the relevant reporting process.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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