Singapore - the Largest Tax Haven?

20. May 2013

According to the American news network CNN and WealthInsight, a London research company, Singapore will take over the position of the largest tax haven by 2020.

According to analysts, the Asian city-state is the fastest growing tax haven. In addition to a low tax burden, Singapore also profits from the fact that more and more wealth is created in Asia. In addition, in China, Indonesia and other Asian countries, the concentration of wealthy individuals has been rising fast.

CTK comments that the city-state in Southeast Asia is the fourth largest foreign financial centre in the world. The world's largest banks have offices in Singapore.

OECD information sharing standards will now become part of all existing bilateral tax agreements which have not included them so far. Currently, Singapore applies international standards concerning tax information sharing with 41 jurisdictions. As soon as the new measures take effect, this number will increase to 83. It will now also include the United States and Brazil.

Back to news list

Our services fulfill Czech Standard - ČSN EN ISO 9001 & Czech Standard - ČSN ISO/IEC 27001