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U.S. IRS Targets Asia for Hidden Taxpayer Funds in 2016, Thomson Reuters Regulatory Intelligence

January 13, 2016

The U.S. Internal Revenue Service has identified Asia as one of the destinations for hidden tax payers' funds, and this year along with the Department of Justice, it is expected to track down tax cheats with Asian accounts. Singapore and Hong Kong are the two main financial centres being targeted largely because substantial funds flowed into these two jurisdictions in the wake of U.S. prosecutions of major Swiss banks over their role in helping their clients evade taxes, lawyers said.

Partners Daniel Chia and Nathan Hochman are quoted.

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