Income Tax (Automatic Exchange of Financial Account Information and Other Matters) Amendment Act 2016

The Income Tax (Automatic Exchange of Financial Account Information and Other Matters) Amendment Act 2016 (the “Amendment”) was passed into law on 26 September 2016. The primary purpose of the Amendment is to provide for the exchange of financial information in accordance with the CRS. Regulations pursuant to the Amendment giving effect to the provisions of the CRS are currently being drafted.