Singapore Plans to Amend Laws Related to Bank Secrecy

June 30th, 2009

Wall Street Journal

SINGAPORE — The Singapore government is proposing changes to its tax laws to meet demands from the U.S. and Europe to clamp down on bank secrecy.

“Singapore will seek to amend its domestic laws to allow it to extend further cooperation on information exchange” via double-taxation agreements with other countries, the Finance Ministry said in a statement. It is seeking public comments through July 28 on the amendments.

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