Now Everything Is Illegal In Singapore

Including evading U.S. taxes.

Singapore has reached a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans, a U.S. Treasury Department spokeswoman said on Monday.

The deal, which was expected for more than a year, will make it much easier for institutions in one of Asia’s biggest wealth management centers to comply with U.S. rules, and puts it ahead of rival Hong Kong which is yet to finalize a deal….

Like most of the other FATCA deals, the Singapore agreement will allow firms to report U.S. account-holder information to their local tax authority, which will send it along to the IRS, saving them from dealing directly with the U.S. tax authorities.

U.S., Singapore reach agreement on tax evasion: U.S. Treasury [Reuters]

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2 Responses to “Now Everything Is Illegal In Singapore”

  1. Fantastic. Love the topic and I love what I read.

  2. FatGuySkinnyTie says:

    The rest of the world would still tolerate this ridiculously imperialist extra-sovereign taxation if America still went around killing the (right) bad guys once in a while.

    If you're going to tax everything and everyone to fund the world's largest military, at least do something productive with it.