• Germany edition
 
Germany to chase tax dodgers in Singapore
Photo: DPA

Germany to chase tax dodgers in Singapore

Published: 06 Oct 2012 12:30 GMT+02:00
Updated: 06 Oct 2012 12:30 GMT+02:00

Schäuble wants to kick-start negotiations on an agreement during his trip to Singapore next week, the Bild newspaper reported Saturday, citing unnamed government sources.

The finance minister's move follows new suggestions that rich Germans are shifting billions of euros from Switzerland to Singapore because CDs stolen from Swiss banks could reveal their hidden cash. Germany is also planning a new tax agreement with Switzerland.

Singapore has yet to react to Schäuble's proposal. The East Asian financial metropolis already has a tax agreement with Germany, and in October 2009 its parliament passed a law allowing it to force banks to reveal account details in the case of suspected tax evasion.

The Organisation for Economic Co-operation and Development (OECD) also took Singapore off its list of dubious tax havens in 2009, but in practice it remains difficult for investigators to find information on potential evaders.

In 2011, the OECD criticized Singapore's existing tax agreements for containing too many loopholes.

The Local/DPA/bk

The Local (news@thelocal.de)

Don't miss...X
Left Right

Your comments about this article

12:49 October 6, 2012 by pepsionice
Just a humble opinion, but I suspect in three years that Russia will finally start to be a secret banking empire. And Germany can as many agreements as they want with the Russian government....it won't matter because the Russians won't enforce them.
14:27 October 6, 2012 by wethepeople2012
Why won't they keep their hands out of everyone's pockets? Soon everyone will leave Germany and who will pay the taxes then?. 50% is outrageous!

The German tax man reminds me of a trip I once took to Rome, a child tried to pick pocket me on the subway. German tax man=Pickpocket!

I suspect some country will eventually be trusted and not worry or care what the german tax man says. They just have to convince their employees that if they release info that is intrusted, the customer looses faith and he will be located and incarcerated and no amount of bribery money will be worth it.
15:22 October 6, 2012 by realist1961
It is interesting, but not surprising, that there are more rich people than poor people who do not buy into the socialist/nanny state mentality.
10:05 October 7, 2012 by zeddriver
@realist1961

As long as the government robs Peter to pay Paul. They can always count on the support of Paul to continue or escalate such robberies.
Today's headlines
German of the Week
'Now I can grow cannabis at home'
Günter Weiglein. Photo: DPA

'Now I can grow cannabis at home'

Günter Weiglein is one of three men in Germany who is allowed to grow his own cannabis thanks to a court ruling last week. But he tells The Local he’s not celebrating just yet. READ  

Germany tops penis enlargement table
Do your wurst, doc. Photo: DPA

Germany tops penis enlargement table

Germany is the world’s leader in penis enlargements, with five times as many people in the country undergoing the procedure than anywhere else in the world. Globally, Germany carries out the fourth highest amount of cosmetic surgery operations. READ  

The Local List
The best words in Austrian German
Which one is the Austrian word for tomato? Photo: APA/dpa

The best words in Austrian German

If you’ve lived in Germany, or you learnt Hochdeutsch at school, you may be surprised by some of the language differences between Austria and parts of Germany. READ  

Turks in Germany vote for first time
Voters at Berlin's Olympic Stadium on Thursday. Photo: DPA

Turks in Germany vote for first time

Germany’s large Turkish community headed to polling stations on Thursday to vote for the first time in a Turkish election. The Local visits Berlin’s Olympic Stadium which has been turned into a giant voting booth. READ  

Ice Age lion gets its head back
The lion with the missing half of its head. Photo: Hilde Jensen, Universität Tübingen.

Ice Age lion gets its head back

A 40,000-year-old figurine of a lion has been reunited with its head, more than 80 years after it was first found in a cave in southern Germany, following an extraordinary discovery. READ  

German jobless rate rises in July
Photo: DPA

German jobless rate rises in July

Unemployment in Germany rose in July to 6.6 percent, the Federal Employment Agency said on Thursday, blaming the increase on "seasonal reasons". READ  

Your lottery numbers are 9, 10, 11, 12 and 13
The winning numbers in Wednesday night's lotto. Photo: DPA/Lotto

Your lottery numbers are 9, 10, 11, 12 and 13

Three lucky Germans will take home a six-figure prize after an extremely rare lottery draw. The lucky numbers on Wednesday night were 9, 10, 11, 12, 13 and 37. READ  

Germany denies 'land for gas' deal with Putin
Merkel with Poroshenko and Putin in June. Photo: DPA

Germany denies 'land for gas' deal with Putin

UPDATE: Chancellor Angela Merkel and Russian President Vladimir Putin have been working on a secret peace plan for Ukraine, The Independent newspaper reported on Thursday. The report was later denied by the German government. READ  

Space ship brings special cargo for astronaut
A cargo compartment on the ATV. Photo: ESA

Space ship brings special cargo for astronaut

The last European space freighter blasted off to the International Space Station (ISS) on Wednesday, carrying a special treat for the station’s German astronaut. The launch of the German-built supply ship marks the end of an era. READ  

World Cup victory makes Germans thirsty
Beer sales abroad and during the World Cup were behind the rise. Photo: DPA

World Cup victory makes Germans thirsty

Germany’s World Cup victory was also good news for the country’s brewers who saw a welcome reversal in the long-term trend of draining beer sales. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Photo: DPA
Gallery
Five reasons to visit Oktoberfest (and five not to)
Photo: DPA
Society
Huge Bavarian crop circle puzzles crowds
Photo: DPA
Analysis & Opinion
Have Your Say: Should Germany legalize cannabis?
Photo: DPA
Education
Germany's students fail to graduate in time
Photo: DPA
Gallery
Hamburg harbour lit up in blue
Business & Money
JobTalk: 'Application process is failing'
Photo: Bundesarchiv/Bild 183-S45825
Culture
Germany puts 700,000 WWI docs online
Photo: DPA
Society
This man wants to give all of us €12,000 a year
Photo: DPA
Education
Top university switches master's courses to English
Travel
Plans unveiled for bike trail along former Iron Curtain
Photo: DPA
Gallery
The Local List: 12 best words in German
Photo: Europeana.de 1914 - 1918
Gallery
A German soldier's life behind WWI lines
Education
Raising the bar for law & business in Germany
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
Photo: DPA
Features
The Local List Archive - Your guide to all things German
National
Share news tips with The Local Germany
Sponsored Article
Bilingual school turning education on its head
Sponsored Article
CurrencyFair: Why it pays when making overseas transfers
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,244
jobs available
Toytown Germany
Germany's English-speaking crowd