In this note, the authors summarize Singapore’s participation in BEPS-initiated international agreements to facilitate exchange of information. They contend that Singapore is motivated to commit to international standards on tax cooperation because of its objective of promoting a sound environment for long-term sustainable growth, including its private banking and wealth management industry, in an environment of internationally consistent implementation and administration of exchange of information. The consequence is a new transparency norm, which need not concern taxpayers that enter into business arrangements and transactions, which have a sound commercial and tax basis.