Sun, Jul 5, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Singapore may get ahead of Switzerland on tax matters

Tuesday, May 21, 2013

amb
Algirdas Semeta
Benedicte Gravrand, Opalesque Geneva: - Bank secrecy was codified by the 1934 Swiss Banking Act, and is prevalent in certain countries such as Switzerland, Lebanon, Singapore and Luxembourg, as well as offshore banks and other tax havens. This is slowly being eroded by pressures coming from both the U.S. and the EU, as governments, which have been looking in every corners for cash since the 2008 crisis, are ramping up their tax collection efforts, especially from nationals parking money abroad. And Switzerland, Singapore, Luxembourg, Austria to name a few, became targets. Last week, Singapore showed its usual proactive stance when it announced a series of steps to become more transparent and cooperative with tax issues. Meanwhile, Switzerland got into a tight corner: the country, which has been grappling with the U.S. on tax evasion matters since 2009, is now facing new demands from the European Commission that also came in last week.

ECOFIN on automatic exchange of information During a meeting of the Economic and Financial Affairs Council (ECOFIN) last week, the Council of the European Union gave a mandate to the European Commission to negotiate ame......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner