Tharman: Singapore tax rules are like West’s

October 30, 2009
Singapore Democrats

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Lorenzo Totaro
Bloomberg


Singapore’s rules on sharing tax information with other countries put it on par with western financial centers like London and New York, Finance Minister Tharman Shanmugaratnam told Corriere della Sera in an interview.

“It’s important to be able to share information when there is a reason to suspect someone is committing a crime,” Corriere quoted Shanmugaratnam as saying. “If anyone says nothing is changing in Singapore, we should say the same about financial capitals like London, Paris and New York, as we follow the same procedures.”

Singapore’s confidentiality laws are not meant to shield tax evaders and the city-state is committed to international efforts to combat cross-border tax evasion, the minister told Corriere.

http://www.bloomberg.com/apps/news?pid=20601092&sid=aZJOn7TsKVUI