Business @ AsiaOne

S'pore among economies blamed for financial secrecy



Sun, Nov 01, 2009
The Straits Times

LONDON, ENGLAND - Leading economic centres, including the United States, Britain and Singapore, are among the countries most to blame for promoting international financial secrecy, according to a new index comparing the harm allegedly done by tax havens and rich nations.

The league table - to be published tomorrow by the Tax Justice Network, a US-based group that campaigns for transparency in international finance - is led by the US state of Delaware and also includes Luxembourg, Switzerland and Hong Kong in its top 10.

Singapore's eighth place reflects long-standing criticism from overseas investigators, who allege it is uncooperative despite its highly sophisticated financial system, the Financial Times (FT) reported yesterday.

 


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