09 Apr '13, 7am

Singapore offers to update tax agreement with Malaysia and Indonesia

SINGAPORE: Singapore has offered to Malaysia and Indonesia to update their tax agreements with the internationally agreed Standard for exchange of information for tax purposes, says Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of the Monetary Authority of Singapore (MAS). He says the Standard provides for the exchange of bank information. "Once our tax agreements with Malaysia and Indonesia are updated with the Standard, just as for our tax agreements with other countries, we can build further on our good working relations with Malaysia and Indonesia and enhance tax cooperation further," he said in response to a Parliamentary Question on Exchange of Information on Monday. The response was to questions to the Prime Minister: (a) in the past 10 years, how many times have Malaysia and Indonesia approached Singapore to provide information on their citiz...

Full article: http://www.nst.com.my/latest/singapore-offers-to-update-t...

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