Saturday, 23 March 2013

The Claim that Sarawak Dirty Money is Hidden in Singapore


Global Witness, an international NGO, has caught on video, a conversation with a Kuching-based lawyer, Alvin Chong who claimed that transactions have been done in Singapore to avoid real property gain tax.


Global Witness

Video of the sting operation.

Yahoo! Singapore

"GWIs there no communication between Singapore and here?
Chong: That's why we choose Singapore. The Singapore government has a China Wall... a firewall. They will not tell the Malaysian government nothing.
GW: Is that because the Malaysian government don't ask them?
Chong: They ask them but they've been turned down. Sorry, it's none of your business... They are the new Switzerland. We operate Singapore accounts too, both personal and corporate entities."

New York Times

"For $650 more, A&P offered to open a bank account to stash my fledgling operation’s money in Singapore — a country, the Web site also noted, that “cannot gather information on foreigners’ bank accounts, bank-deposit interest and investment gains under domestic tax law.”"


In long term, it is politically unwise and economically unsound to allow criminals to stash their money in Singapore. The reputation of Singapore as an orderly, law-abiding country is being damaged.

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