FATCA and CRS Training 2026
5 November 2026
Tax Academy of Singapore, in collaboration with EY Singapore, organised the FATCA and CRS Training 2026 on 5 November 2026. The training received an encouraging response, with more than 90 sign-ups from almost 50 companies and institutions across the financial services industry. Through two training sessions, participants had the opportunity to deepen their understanding of FATCA and CRS and their role in promoting international tax transparency.
As international tax transparency continues to evolve, financial institutions play an important role in facilitating the exchange of financial account information between jurisdictions. Against this backdrop, staying abreast of developments in the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS) remains essential for professionals involved in tax, compliance and financial reporting.
Understanding FATCA and CRS Requirements
The training covered key aspects of FATCA and CRS, providing participants with a better understanding of the frameworks and their application within the financial services industry. Topics included key concepts and entity classification, the identification of controlling persons, due diligence and reporting requirements, as well as governance and internal controls. The programme also covered an overview of CRS 2.0 amendments and their potential operational implications for financial institutions.
Through these discussions, participants gained a broader understanding of the considerations involved in meeting international tax transparency requirements and the importance of maintaining effective compliance processes within their organisations.
Insights from Industry Practitioners
The training was conducted by three practitioners from EY Singapore's Financial Services Tax team: Ms Sima Shah, Partner; Mr Michael Yong, Associate Director; and Ms Tricillia Liu, Manager.
Drawing on their experience and expertise, the trainers shared practical perspectives on FATCA and CRS requirements, offering participants insights into the considerations faced by financial institutions in navigating their compliance responsibilities. Learning directly from practitioners with experience in these areas also provided participants with an opportunity to better appreciate how the frameworks are applied in practice.
The sessions were further enriched by active participation and exchanges between the trainers and attendees. Participants raised questions and shared perspectives from their respective organisations, making the discussions an opportunity for both knowledge-sharing and learning from industry experience.
From left to right: Mr Michael Yong, Ms Tricillia Liu, Ms Sima Shah, Mr Dennis Lui (CEO, Tax Academy of Singapore), Ms Maggie Wee (Programme Manager, Tax Academy of Singapore), Ms Eunice Toh (Associate Director, Tax Academy of Singapore)
Bringing the Financial Services Community Together
The strong response to the training reflected the continued relevance of FATCA and CRS across the financial services industry. Conducted across morning and afternoon sessions on 5 November 2026, the programme attracted more than 90 sign-ups from almost 50 companies and institutions, including banks, securities firms, trust companies and other financial services businesses.
The diverse representation highlighted the importance of international tax transparency requirements across different segments of the financial services sector, as well as the value of bringing professionals together to exchange knowledge and perspectives.
The collaboration between Tax Academy of Singapore and EY Singapore reflects the importance of industry partnerships in supporting the continuous development of tax professionals. By bringing together professional education and practical industry expertise, such initiatives provide opportunities for professionals to stay informed of regulatory developments and strengthen their capabilities in an evolving tax environment.
Tax Academy of Singapore extends its appreciation to Ms Sima Shah, Mr Michael Yong and Ms Tricillia Liu for sharing their knowledge and expertise, as well as to EY Singapore and all participants for their contributions to the training.
