Germany to negotiate deal with Singapore against tax evasion...

Germany will start talks with Singapore next week on a deal to prevent its citizens from evading taxes by shifting their money to the Asian state, a government source said on Saturday.

During a visit to Asia next week, German Finance Minister Wolfgang Schaeuble will fly to Singapore, the region's prominent wealth management centre, to try to negotiate an agreement with the government, the source said.

According to media reports, there are signs German tax dodgers are shifting funds to Singapore from Switzerland, which signed a tax deal with Germany earlier this year.

The source said hopes were high that Singapore would agree to give German authorities information on assets held in the country by wealthy German citizens as it had stressed earlier this year it did not tolerate tax evasion.

"We are acting on the assumption that Singapore is pursuing a clean money strategy," the source said. Full story...

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