Arab Today, arab today france singapore step up fight against tax cheats
Last Updated : GMT 04:25:44
Arab Today, arab today
Arab Today, arab today

France, Singapore step up fight against tax cheats

Arab Today, arab today

Arab Today, arab today France, Singapore step up fight against tax cheats

French Finance Minister Michel Sapin
Singapore - AFP

 France on Friday lauded Singapore for entering into a new pact that tightens measures against foreign tax cheats seeking to hide their assets in the Asian financial hub.
The revised agreement on double taxation, signed late Thursday by French Finance Minister Michel Sapin and his counterpart Tharman Shanmugaratnam, seeks to promote business ties between the two countries while plugging tax loopholes.
"We must improve information exchange between our two countries," Sapin told AFP on Friday in written remarks, before leaving for Indonesia as part of an Asian tour that also includes Japan.
"Our relations are already good but thanks to this agreement, we will be at a world-class standard in the fight against tax fraud and going after accounts that are kept hidden from tax authorities -- I don't need to spell it out for you."
French budget minister Jerome Cahuzac was forced to step down in March 2013 after being accused of having an undeclared Swiss bank account and moving assets to Singapore to hide them from tax authorities in France, where prosecutors want to bring him to trial.
The new French-Singapore agreement offers improved terms for companies in both countries.
"It also contains anti-abuse provisions that will enable us to fight against the kind of tax avoidance that some companies have been indulging in, while also permitting us to fine-tune other situations which can lead to double taxation of some companies," Sapin said.
"Beyond this agreement, we want to make sure that Singapore is truly part of this major international movement leading us to the automatic exchange of information between all countries. France has decided to do that with 60 other countries in 2017. Singapore is poised to make it in 2018."
The Paris-based Organization for Economic Cooperation and Development had initially included Singapore in a "grey list" of global tax havens but the island nation has since been removed after entering into tax data-sharing agreements with major partners.
Last month, Singapore signed an agreement to facilitate compliance by its financial institutions with US laws targeting Americans who use overseas accounts to evade taxes.
Singapore is one of the favourite Asian destinations of French companies and professionals. An estimated 15,000 French citizens now live in the wealthy city-state.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france singapore step up fight against tax cheats Arab Today, arab today france singapore step up fight against tax cheats

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:43 2017 Wednesday ,22 February

South Africa budget throws light on fractured ANC

GMT 11:35 2017 Wednesday ,22 February

British economy grows 0.7% in final quarter of 2016

GMT 06:04 2017 Wednesday ,22 February

Hammond closes in on budget goal

GMT 05:34 2017 Wednesday ,22 February

Euro zone economy outlook shines

GMT 04:10 2017 Wednesday ,22 February

US stocks finish at another all-time high
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday