It is reported in the IRAS’ website that Singapore has entered into a Double Taxation Agreement (“DTA“) with Belarus that has come into force on 27 December 2013 and is effective from 1 January 2014. As at 6 January 2014, Singapore has concluded 73 DTA with the rest of the world (other than the US).
The DTA will encourage and facilitate cross-border trade and investment between Singapore and Belarus by providing greater clarity on taxing rights and minimising the scope of double taxation between the two nations.
Amongst other provisions, the DTA provides for lower withholding tax rates for dividends (5%), interest (5%) and royalties (5%). It also includes the internationally agreed Standard for the exchange of information for tax purposes.
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