International Government – “Tax Cooperation”

Singapore signs its 12th tax agreement meeting the OECD standard, www.oecd.org, Nov. 13/09

“As part of its commitment to implementation of the OECD standard, Singapore has recently passed legislation to enable its authorities to exchange information, including bank and fiduciary information, with tax authorities in other countries….

““Singapore is a key player in the global financial community,” Mr. Gurría said. “The fact that Singapore has removed the legislative impediments to its implementation of the international standard is very welcome and it confirms that there is a new global environment of tax cooperation [governments enforcing each others' tax collection]. No jurisdiction can stand apart from this movement towards greater transparency [elimination of privacy and national sovereignty] for tax purposes.””