Media playback is unsupported on your device

Singapore moves to curb tax evasion

5 July 2013 Last updated at 04:24 BST

This week Singapore's government moved to make it an offence for banks to help tax evaders stow away their funds in the city-state.

It is the most recent move by the Monetary Authority of Singapore (MAS) to reassure its neighbours and the world that it is fighting off money laundering and tax evasion.

Sharanjit Leyl speaks to Chong Lee Siang, Financial Services Tax Partner with EY, about this latest move.