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Singapore, Cambodia Sign Tax Treaty

by Mary Swire, Tax-News.com, Hong Kong

24 May 2016


Singapore and Cambodia have entered into a double taxation avoidance agreement to boost cross-border trade and investment between the two countries.

The Agreement was signed on May 20, 2016, by Indranee Rajah, Singapore's Senior Minister of State for Law and Finance, and Aun Pornmoniroth, Cambodia's Senior Minister of Economy and Finance.

The Agreement clarifies the taxing rights of both countries on all forms of income flows arising from cross-border business activities, and ensures that income will not be taxed twice. Under the deal, withholding tax on dividends, interest, and royalties would be subject to a maximum rate of ten percent. Certain payments of interest will be exempt.

The Agreement also includes provisions to resolve treaty disputes through a mutual agreement procedure and provides for information exchange in tax matters.

The DTA will enter into force after the completion of both countries' domestic ratification procedures.

TAGS: Finance | tax | investment | business | double tax agreement (DTA) | interest | royalties | Singapore | ministry of finance | agreements | tax planning | withholding tax | Cambodia | dividends | tax reform | trade | Economy

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