CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Singapore Ratifies New Tax Treaties

Singapore Ratifies New Tax Treaties

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

15 December 2006


The government of Singapore has announced that new double taxation avoidance agreements with Germany and Brunei have now come into effect.

This follows the completion of ratification formalities and exchange of ratification instruments between the governments concerned.

The new agreement with Germany came into effect on 12 December, and replaces the original treaty signed by both governments on 19 February 1972. The new agreement is necessary because of changes in economic circumstances and policies in both Singapore and Germany.

Under the new agreement, withholding tax rates on interest will be reduced to 8% from 10% and on royalties to 8% from domestic rates. The new agreement will cover income derived on or after 1 January 2007.

According to the Singapore government, the revised treaty will continue to help investors avoid the burden of double taxation of income flows between Singapore and Germany, and will further facilitate the cross-flow of trade, investment, financial activities and technical know-how between the two countries.

Meanwhile, Singapore's double tax avoidance agreement with Brunei, its 54th such agreement, came into effect on 16 December. It will apply to all types of income, also from 1 January, 2007.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »