Determine reportable holders
The Convention-based agreement covers CRS account holders resident in the partner jurisdiction and relevant controlling persons of passive entities. Definitions distinguish resident financial institutions, overseas branches and domestic branches of foreign institutions. Exchanged data include identifiers, account balance or closure, and applicable interest, dividends, other income and gross proceeds. Institutions must apply CRS due diligence and account exclusions before treating an account as reportable; a Maltese address by itself is not a complete tax-residence analysis.
Initial category transition and protected exchange
The agreement covers 2017 onwards, but both sides start custodial gross-proceeds information with 2018. Exchanges are made within nine months after year-end subject to effective domestic reporting legislation. Authorities agree XML and encryption arrangements, cooperate on incorrect reporting and notify data-safeguard breaches immediately. Convention confidentiality and permitted-use limitations continue after termination. Singapore institutions submit to IRAS under domestic procedures, with the historical transition read alongside current-year jurisdiction lists and reporting requirements.
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.
Read the official PDF ↗