An Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income has been signed between the Republic of Singapore and the Kingdom of Morocco.
The signing took place in conjunction with Senior Minister Goh Chok Tong’s visit to Morocco. Zainul Abidin Rasheed, Senior Minister of State for Foreign Affairs, signed on behalf of Singapore while Fathallah Oualalou, Minister of Finance and Privatization, signed on behalf of Morocco.
The agreement aims to alleviate the burden of double taxation of income earned in one country by a resident of the other. It also makes clear the taxing rights between Singapore and Morocco on all forms of income from cross-border economic activities between the two countries. There are also provisions for reduction or exemption of tax on certain types of income. The agreement facilitates the cross-flow of trade, investment, financial activities and technical know-how between Singapore and Morocco.
With the signing of this agreement, Singapore has signed comprehensive Avoidance of Double Taxation Agreements with 60 countries. The agreement will enter into force after its ratification by both countries. The provisions of the Agreement will apply to income arising in the year after its entry into force.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment