Singapore’s Position and Plans on OECD MCAA on Automatic Exchange of Readily Available Information on Immovable Property

Parliamentary Question by Mr Chua Kheng Wee Louis:

To ask the Prime Minister and Minister for Finance (a) what is the Government's position on the OECD Multilateral Competent Authority Agreement on Automatic Exchange of Readily Available Information on Immovable Property; (b) whether Singapore intends to implement it; (c) if so, by when; and (d) if not, why. 

Parliamentary Reply by Second Minister for Finance, Mr Jeffrey Siow:

The OECD Multilateral Competent Authority Agreement on Automatic Exchange of Readily Available Information on Immovable Property is not an agreed international standard. Singapore has no plans to implement this framework at present as our existing arrangements already provide sufficient avenues for information exchange with other jurisdictions.