Intergovernmental agreement (IGA) on the US Foreign Account Tax Compliance Act (FATCA)
Singapore, 9 November 2012...The Singapore Government is in talks with the US Department of the Treasury to conclude an IGA on the FATCA. This is in line with Singapore’s role as a responsible tax jurisdiction and our commitment to safeguard our financial system from being used to harbour illegal proceeds. A private sector advisory panel will be formed to provide industry inputs to the talks. FATCA aims to combat tax evasion by targeting non-compliance by US taxpayers using overseas accounts.