News Singapore Trading: Commodity giants' Singapore trading hubs under fire in tax probes
The Singapore trading hubs of the world's largest commodity companies are coming under scrutiny from the governments of some resource-producing countries who say they suspect they are using units in the Southeast Asian financial centre to avoid tax. The companies deny any improper transfer pricing and say they are in Singapore to be closer to Asian clients, to local expertise and trade routes, as the region accounts for a growing share of their business. The world's two largest miners, BHP Billiton and Rio Tinto , between them booked close to $50 billion in revenue in Singapore in 2013, according to documents from the country's corporate registry, and posted a combined net profit of more than $2 billion. Australia and Indonesia's tax authorities say they are investigating whether arrangements like these simply shift profits away from where the commodities are extracted.
News Singapore Trading: Singapore cautions against marketing of cryptocurrency services to public
Monetary Authority of Singapore warns again about the high risks involved in cryptocurrency trading and instructs providers of such services not to publicly promote or advertise their offerings, as ...
News Singapore Trading: Singapore cbank issues guidelines to discourage crypto trading by public
The Monetary Authority of Singapore (MAS) on Monday issued guidelines that limit cryptocurrency trading service providers from promoting their services to the general public, as part of a bid to ...
News Singapore Trading: Singapore blocks crypto ads deeming trading unsuitable for public
Singapore blocks crypto ads as it deems crypto trading unsuitable for the common public because of the risks involved.
