Singapore

Country profiles
Country profiles

Singapore

  • Corporate Tax Haven Index ranking: 8
  • Financial Secrecy Index ranking: 5
  • Tax loss each year to tax havens: $4,776,999,238
  • Tax loss inflicted on other countries: $14,633,842,974

Country profile

Tax abuse losses

$4,776,999,238

lost in tax every year to global tax abuse

$2,791,252,045

lost to tax avoidance committed by multinational corporations

$1,985,747,192

lost to tax evasion committed by private individuals

  • Equivalent to 10.73% tax revenue (tax revenue in 2020 : $44,520,818,987 trillion)
  • Equivalent to loss of $866 per member of population (Population: 5,516,536.30)
  • Greater than Global Average tax revenue Loss 2.61%
  • Greater than Regional Average tax revenue Loss 1.48%

Global Rankings

Corporate Tax Haven Index 2019
#8

Global Rank (First is Worst)

81.35/100

Haven Score (100 is Worst)

3.92%

Share of global tax havenry

Financial Secrecy Index 2020
#5

Global Rank (First is Worst)

64.98/100

Haven Score (100 is Worst)

3.00%

Share of global tax secrecy

Harm to other countries

$14,633,842,974

in tax lost by other countries

$12,221,060,747

by enabling corporate tax avoidance

$2,412,782,227

by enabling private tax evasion

Responsible for 3.42% of global tax losses
Inflicted tax loss equivalent to yearly salaries of
1,160,139 nurses

Social impact of lost tax

Tax loss equivalent to 84.73% of health budget
Tax loss equivalent to 48.74% of education spendings
Suffered tax loss equivalent to paying yearly salaries of
121,017 nurses

Vulnerability to illicit financial flows

Most Vulnerable via Inward FDI
Vulnerable Score for this channel is 63.00 / 100
(100 is Worst)

Trading partners most responsible for vulnerability

United States (20.8%)
Cayman Islands (9.5%)
British Virgin Islands (7.9%)

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