Singapore top destination for tax dodgers
Tax system does not force ex-pats to report account details to home tax authority
It reported that while Singapore has a stable banking system it has not
signed the EU Savings Directive which obliges banks paying interest on ex-pat
accounts to report the details to the customer’s home tax authority.
Furthermore, research by foreign exchange dealer
Currencies Direct found that the
majority of its transfers are made by UK residents looking to emigrate or
purchase property abroad.