For the sake of his useless SON!
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Coffeeshop Chit Chat - Spore Tax Dodgers Hub Days Are Numbered</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">SGNEWSALTE <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">2:54 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 4) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>3416.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>The new US govt is expected to tighten the screw on Singapore as a tax dodgers hub for wealthy foreign citizens who park their money here in order to avoid tax in their own countries. Financial hub my ASS!
http://www.reuters.com/article/marketsNews/idUSSP39312120081205
Singapore may face U.S. challenge on bank secrecy laws
SINGAPORE, Dec 5 (Reuters) - Singapore may face political pressure from the United States over its role as a financial centre for rich foreigners, the country's prime minister said on Friday.
Prime Minister Lee Hsien Loong told journalists at a lunch hosted by Singapore's Foreign Correspondents Association that U.S. pressure on some European countries to lighten banking secrecy laws and open their books to greater scrutiny may lead to more European money flowing into Singapore in the short term.
"But I expect Singapore to come under pressure too," he said in response to a question on whether pressure on countries like Switzerland and Liechtenstein will help Singapore.
Singapore's government has previously denied suggestions that the country is a tax haven. It has strict bank secrecy laws and has been promoting itself as a rival financial centre to Hong Kong to attract banks such as UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz), Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) and Citigroup (C.N: Quote, Profile, Research, Stock Buzz) to manage money for rich local and foreign clients. (Reporting by Neil Chatterjee and Kevin Lim; Writing by Jan Dahinten; Editing by Tomasz Janowski)
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http://www.reuters.com/article/marketsNews/idUSSP39312120081205
Singapore may face U.S. challenge on bank secrecy laws
SINGAPORE, Dec 5 (Reuters) - Singapore may face political pressure from the United States over its role as a financial centre for rich foreigners, the country's prime minister said on Friday.
Prime Minister Lee Hsien Loong told journalists at a lunch hosted by Singapore's Foreign Correspondents Association that U.S. pressure on some European countries to lighten banking secrecy laws and open their books to greater scrutiny may lead to more European money flowing into Singapore in the short term.
"But I expect Singapore to come under pressure too," he said in response to a question on whether pressure on countries like Switzerland and Liechtenstein will help Singapore.
Singapore's government has previously denied suggestions that the country is a tax haven. It has strict bank secrecy laws and has been promoting itself as a rival financial centre to Hong Kong to attract banks such as UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz), Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) and Citigroup (C.N: Quote, Profile, Research, Stock Buzz) to manage money for rich local and foreign clients. (Reporting by Neil Chatterjee and Kevin Lim; Writing by Jan Dahinten; Editing by Tomasz Janowski)
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