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Singapore crackdown

With increasing regulation internationally, and a widespread clampdown on tax cheats, Singapore has taken steps to further secure its position on the financial stage, says Marcus Hinkley

23 July 2013

Singapore is a rising star in the private wealth world and a key financial centre in Asia. The island's legal, regulatory and tax regimes are engineered towards attracting investment. As a result, a significant number of international funds, both personal and institutional, are now held in Singapore.

Elsewhere, many governments are clamping down on apparent tax dodgers, using a multitude of tactics to recoup supposed lost funds and keep tighter control in the future. Financial centres the world over are being forced to make a decision: either help in the fight against tax evasion or risk being blacklisted and falling out with some of the world's largest economies.

Singapore is opting to join the fight and is implementing a number of measures to help ensure the wealth it attracts is not tainted by unpaid taxes. This year alone, Singapore ha...

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