The influx of family offices handling money of Chinese origin has slowed in the wake of Singapore’s multibillion-dollar money-laundering scandal
Tighter checks for new applicants are partly to blame – but the city state’s elevated property prices and higher stamp duty aren’t helping, either.
In Singapore, the growth of Chinese family offices has been slowing amid the fallout from last year’s multibillion-dollar money-laundering scandal and tighter checks on new applicants.
More than S$3 billion (US$2.2 billion) in assets have been seized so far in connection with the sprawling case, which first hit the headlines in August last year when 10 China-born suspects were arrested.
The number of individuals confessing to HMRC about unpaid taxes on offshore income surged by 22 per cent in 2024, with 5,643 taxpayers coming forward compared to 4,630 in 2023, according to research
Minimum corporate taxation: moving forward with cooperation and exchange of information between member states. The EU Council tightens the screws on taxation and business by approving the directive
A wealth tax is an effective way of raising much-needed revenue without imposing additional tax burdens on middle and low-income groups, says an alliance of Asian activist groups calling for the tax
The US Treasury Department has taken a significant step towards addressing the burgeoning world of Non-Fungible Tokens (NFTs) by recommending closer collaboration between the government, industry stakeholders,