By Singapore Newsroom
SINGAPORE (Jul 12) -- Here's a roundup of local news:
*Indonesia to bring home tax money parked in Singapore
The government is to hunt down tax money from Indonesians who park their money in Singapore, following an offer from Singapore to allow Indonesia to access the financial data of Indonesians in the neighboring country. Singapore and Indonesia are soon to sign a Bilateral Competent Authority Agreement to implement the Automatic Exchange of Information between the two countries. Finance Minister Sri Mulyani Indrawati received the offer from Singapore on the sidelines of the G20 Summit in Germany last week. - The Jakarta Post
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