Singapore legislation
Regulation 11
of Income Tax (International Tax Compliance Agreements) (United States of America) Regulations 2020
Regulation 11
Identification and disclosure obligations
Amended byS 870/2021 wef 16/11/2021
Subregulation 1
A reporting Singaporean financial institution that comes within the terms of sub‑paragraph (d) of paragraph 1 of Article 4 of the Agreement must make a disclosure of information in respect of any payment mentioned in that sub‑paragraph that is made on or after 1 January 2021 in accordance with the requirements of that sub‑paragraph.
Subregulation 2
Amended byS 870/2021 wef 16/11/2021
The requirement under paragraph (1) is a requirement the failure or neglect to comply with which (if such failure or neglect is without reasonable excuse) is an offence under section 105M(1B) of the Act.