Singapore not some shady offshore centre: Deputy PM

Singapore Deputy Prime Minister Tharman Shanmugaratnam today said his country is not some 'shady offshore centre' where people can secretly park money and it does not protect any 'holy cows'.
"We are not some shady offshore centre. We are continuously keeping a watch on it (tax related crimes). There are no holy cows in Singapore. We do not protect any holy cows," Shanmugaratnam said here.
He was answering questions on whether Singapore was emerging as one of the destinations to stash money.
The Deputy PM said Singapore is open for any kind of scrutiny.
"We are totally open for scrutiny. I would say we should scrutinise every jurisdiction of the world, including states within United States," he said.

Recently, Indian Express carried a report based on leaked documents of a Panama-based law firm Mossack Fonseca which is said to feature links of over 500 Indians to firms and accounts in offshore tax havens.