Just came over the wire (probably fiber optic now but...) India and Singapore have revised their double tax treaty:
http://www.thehindu.com/business/Economy/article2132285.ece
The Protocol to be ratified (hence not effective today): http://www.iras.gov.sg/pv_obj_cache/pv_obj_id_FFCB86402606AD1BB409F254BEDF0EBCE7D40000/filename/Protocol%20amending%20Singapore-India%20DTA%20(Not%20in%20force)(24%20June%202011).pdf
This Protocol replaces Article 28 on Exchange of Information of the existing DTAA with the current OECD-model wording (paragraphs 4 & 5 to be more exact). Read carefully: “In no case shall the provisions of paragraph 3 be construed to permit a Contracting State to decline to supply information solely because the information is held by a bank, other financial institution, nominee or person acting in an agency or a fiduciary capacity or because it relates to ownership interests in a person.”
When researching this, I used the Google search engine. Now I noticed something unusual about the search results. Great Googly-Moogly, virtually all the hits were from India or Indian news/business websites. You would be hard pressed to find this news on Singapore news feeds. Hmmmmmm
Do you own search. Draw your own conclusions.
Sorry gotta run, many wire transfer forms to fill out.
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