Singapore targets tax evaders with carrot-and-stick approach

14 February 2013 | 2 minutes read

Singapore’s authorities seem determined to do away with the city-state’s “tax haven” label once-and-for-all, introducing incentives for deliberate tax evaders to avoid prosecution by turning themselves in as part of the Voluntary Disclosure Programme (VDP). The Inland Revenue Authority of Singapore (IRAS) now permits deliberate tax evaders – those who have dodged taxes with “willful intent” – to join the VDP…

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