Panama Papers: Singapore is not so clean afterall

[Leepotism]

Panama Papers: $1 “shell companies” were set up in Singapore “to continually move and hide assets”

By The Independent -
April 5, 2016







By: Roy Ngerng
Have to read the Australian, British, Hong Kong, Irish and Malaysian news to find out how Singapore is involved in the Panama Papers.

How come cannot find out anything from the Singapore’s newspapers ranked 153rd in press freedom ah?

Also, how come nobody seem to care ah?

For example, do you know that Singapore is one of the top 10 countries with the “most active intermediaries involved in offshore tax havens”?

And that Singapore is one of the top 5 “worst offenders” of “national jurisdictions based on their secrecy laws and the scale of offshore financial activities in the country”?

Irish Times reported that “A Singapore company … helped clients set up offshore companies and trusts in the British Virgin Islands, the Cook Islands and other tax havens.”

Singapore actually has 48 clients, 135 beneficiaries, 2,275 shareholders and 4,081 companies involved – one of the highest in the world.

Singapore got such companies meh? Which ones ah? I didn’t know have such companies!

Vice also reported that $1 “shell companies” were set up “in order to continually move and hide assets”.

It also reported that these shell companies “can’t be tied directly to the politician because the company is technically owned by someone else – a stand-in owner … to run the company on paper, but, in reality, doesn’t own anything.”

Singapore doesn’t have such companies, right? I don’t remember!
Singapore is so clean and green wor.
—
Republished from Roy Ngerng’s Facebook.

 

[NoAnswer]

deafening silence

 

[Jah_rastafar_I]

Scrooballs pls come in here to explain. Former commissioner of police running one of those firms somemore!

Pls give the scoop.

 

[frenchbriefs]

Who cares about corruption in malaysia when singapore is the biggest black sheep in the world?congrats LHL,the legacy of Singapore is not based on its status as financial hub of the world but the money laundering hub of the world.I hope usa invades singapore to get to the bottom of this corruption and put LHL on stand trial for crimes against humanity.

 

[Leongsam]

There is nothing wrong with being a tax haven. It is not illegal.

The majority of sports superstars are residents of tax havens so I see absolutely nothing wrong with being associated with a tax haven in any shape or form.

 

[frenchbriefs]

There is nothing wrong with being a tax haven. It is not illegal.

The majority of sports superstars are residents of tax havens so I see absolutely nothing wrong with being associated with a tax haven in any shape or form.

Tax haven is a criminal activity as u are assisting other citizens and companies of other countries evade taxes.tax evasion and fraud is the biggest crime of all even worst then rapists,murderers,child molestors and terrorists,as u do not only have one or a few victims,u are literally cheating ur nation and thousands even millions of ur fellowmen.theres no escaping from taxes in life,only three things in life are certain,birth death and the taxman,nobody gets away with cheating the taxman.even ordinary folks go to jail for years for trying to lie on their tax returns for tens of thousands of dollars.

tax fraud and evasion is the crime of the highest order,all governments should grant every IRS all the power and jurisdiction to apprenhend these criminals.....they should storm these billionaires skyscrapers with swat teams and throw multiple flashbangs and smoke grenades minimum six. carpet bomb their safe houses.tactical nuke their

 

[Jah_rastafar_I]

deafening silence

Thread started at 5am mah. Wait till at least noon for TPX and clones to come in to give their take.

 

[frenchbriefs]

Thread started at 5am mah. Wait till at least noon for TPX and clones to come in to give their take.

he means the defeaning silence from PAP and the crickets outside istana as the world watches in stunned silence......LHL u diu lei lou mou ham ka chan!!!!

 

[Jah_rastafar_I]

he means the defeaning silence from PAP and the crickets outside istana as the world watches in stunned silence......LHL u diu lei lou mou ham ka chan!!!!

Nothing new there.

 

[eatshitndie]

sg is a tax haven, and i'm happy to stash my cash there. very easy to open an account with oub.

 

[halsey02]

There is nothing wrong with being a tax haven. It is not illegal.

The majority of sports superstars are residents of tax havens so I see absolutely nothing wrong with being associated with a tax haven in any shape or form.

I do not understand why people are 'rattling sabers' over this, using tax haven like Panama is not new...we have, Jersey right & BVI..many companies are registered there..even Trinidad & Tobago....for decades...

Why don't they ask about all the nominees accounts that Singapore used to have..especially the Asing Accounts when we have CLOB & traded off KLSE?...until KLSE pulled the plugs over the nominees accounts...that is not 'illegal'...

The point is....if no legitimate governments is complaining that taxes or money which is hidden from view...no one is complaining; like I have just mentioned a legitimate government have legitimate trading accounts plus nominees accounts is legal right?:roll eyes:

If you are CLEAN in business...how to make money?....if a businessman or business is clean...I worry!

 

[yahoo55]

Saw that DBS, UOB and OCBC are in the Panama Papers List, wonder if the Sinkie banks are helping their wealthy clients to cheat on taxes?

 

[frenchbriefs]

I do not understand why people are 'rattling sabers' over this, using tax haven like Panama is not new...we have, Jersey right & BVI..many companies are registered there..even Trinidad & Tobago....for decades...

Why don't they ask about all the nominees accounts that Singapore used to have..especially the Asing Accounts when we have CLOB & traded off KLSE?...until KLSE pulled the plugs over the nominees accounts...that is not 'illegal'...

The point is....if no legitimate governments is complaining that taxes or money which is hidden from view...no one is complaining; like I have just mentioned a legitimate government have legitimate trading accounts plus nominees accounts is legal right?:roll eyes:

If you are CLEAN in business...how to make money?....if a businessman or business is clean...I worry!

using tax haven is not new no,yes we know tons of companies use tax havens,but having a reputation as a tax haven thats very fucking new....even the old tax havens in europe try to distance themselves from tax haven activities and reputation.

if these activities are perfectly moral and legal why all the fuss and secrecy?why so many secrecy laws in SG and all the funky loopholes and $1 shell companies?even PAP is using $2 shell companies.the cat is out of the bag,singapore economic achievements are nothing but hogwash based on black market activities and money laundering.time to nuke this worthless country once and for all.

 

[Leongsam]

Tax haven is a criminal activity as u are assisting other citizens and companies of other countries evade taxes.tax evasion and fraud is the biggest crime of all even worst then rapists,murderers,child molestors and terrorists,as u do not only have one or a few victims,u are literally cheating ur nation and thousands even millions of ur fellowmen.theres no escaping from taxes in life,only three things in life are certain,birth death and the taxman,nobody gets away with cheating the taxman.even ordinary folks go to jail for years for trying to lie on their tax returns for tens of thousands of dollars.

tax fraud and evasion is the crime of the highest order,all governments should grant every IRS all the power and jurisdiction to apprenhend these criminals.....they should storm these billionaires skyscrapers with swat teams and throw multiple flashbangs and smoke grenades minimum six. carpet bomb their safe houses.tactical nuke their

Tax evasion is a crime but tax avoidance is perfectly legal. It's what tax consultants do for a living.

I pay my accountant about $2000 annually and it return he helps me save more than $60,000 in taxes a year by structuring my business to take advantage of the tax laws of the country.

You don't have to feel any sympathy for the tax man as they would be quite happy to collect far more than they are entitled too. Anyone who does not try to minimise his taxes is an idiot.

 

[johnny333]

Probably the PAP's favorourite mantra "What's wrong with making money"

They have so much $$$$ that they need to hide, that I wouldn't be surprised if they are one of the largest users of these services. They now already own all of Spore. They now have to "invest" overseas.

 

[Leongsam]

Probably the PAP's favorourite mantra "What's wrong with making money"

They have so much $$$$ that they need to hide, that I wouldn't be surprised if they are one of the largest users of these services. They now already own all of Spore. They now have to "invest" overseas.

I have never met a single person who does not want to make money.

 

[jw5]

Probably the PAP's favorourite mantra "What's wrong with making money"

They have so much $$$$ that they need to hide, that I wouldn't be surprised if they are one of the largest users of these services. They now already own all of Spore. They now have to "invest" overseas.

I have never met a single person who does not want to make money.

That's true, except that the pap's favourite mantra is "What's wrong with collecting more money?"

 

[winnipegjets]

PAP Press stated that no sinkees was on the list! That reporter should apologize publicly and then do a hari-kiri.

 

[eatshitndie]

That's true, except that the pap's favourite mantra is "What's wrong with collecting more money?"

this pap-insinuation will qualify thread for move to the political section.

 

[jw5]

this pap-insinuation will qualify thread for move to the political section.

Hopefully the would allow it to stay. :(