Singapore plans to classify tax evasion and abetting tax evasion as money-laundering predicate offences so that the powers used to investigate and prosecute money laundering will be available to seize the proceeds of tax crimes.
Foreign jurisdictions may also make requests for legal assistance to pursue tax evaders and their proceeds. The proposals are out for consultation until 9 December and will become law in July 2013.
If you have Unreported Income from Switzerland, Singapore or Other Foreign Banks, contact the Tax Lawyers at Marini & Associates, P.A. for a FREE Tax Consultation at www.TaxAid.us orwww.TaxLaw.ms or Toll Free at 888-8TaxAid (888 882-9243).
Singapore Business Times
Monetary Authority of Singapore