14 May 2013

Singapore has assured the international community of their fullest cooperation in fighting cross-border tax offences.

As the tax authorities of Australia, United Kingdom and the United States have launched their own investigations on tax avoidance, Singapore’s laws and tax agreements in turn, which are aligned with international standards, allows for the exchange of information, including banking and trust information.

In addition to IRAS’s ongoing audits of entities that use offshore structures to conceal income, the Singapore authorities will also be requesting for the data of entities linked to Singapore.

Source: Inland Revenue Authority of Singapore (IRAS), Ministry of Finance (MOF) and Monetary Authority of Singapore (MAS)