Tax cheats are fast running out of tax shelters. The latest to submit to international standards are Singapore and Liechtenstein.
The former was removed from the OECD's "grey" list on Wednesday and the latter today, after it signed its 12th bilateral information-sharing agreement with (ugh) the French. The city-state sought to reassure the many tax-evaders who have brought their money to its spit-and-gum-free shores, but methinks they doth protest too much.
"We will only provide assistance where there is a genuine case on hand, and the requested information is specific and relevant to the case," Singapore's finance minister, who has an impossibly long name, said when the country passed the law that made today's deal possible. "Spurious or frivolous requests for information will not be acceded to. No more wire hangers!"
Whatever, Singapore. At least we'll always have Delaware.
Singapore to join OECD tax 'white list' [FT]