It has been announced that a double taxation agreement (DTA) was signed between Singapore and Spain on April 13.
The signing took place in Singapore between Lee Yi Shyan, Singapore’s Minister of State, Ministry of Trade and Industry, and Miguel Sebastián Gascón, Spain’s Minister of Industry, Tourism and Trade. The signing of the DTA was also witnessed by the Singaporean Prime Minister, Lee Hsien Loong, and the Spanish Prime Minister, José Luis Rodríguez Zapatero, who was on a working visit to Singapore.
Amongst other provisions, the DTA incorporates the internationally-agreed standard for the exchange of information for tax purposes upon request, provides for lower withholding taxes for dividends, interest and royalties, and sets out permanent establishment rules.
The text of the agreement has been made available by the Singaporean tax authority on its website, and will enter into force after it has been ratified by both countries.
The signing took place in Singapore between Lee Yi Shyan, Singapore’s Minister of State, Ministry of Trade and Industry, and Miguel Sebastián Gascón, Spain’s Minister of Industry, Tourism and Trade. The signing of the DTA was also witnessed by the Singaporean Prime Minister, Lee Hsien Loong, and the Spanish Prime Minister, José Luis Rodríguez Zapatero, who was on a working visit to Singapore.
Amongst other provisions, the DTA incorporates the internationally-agreed standard for the exchange of information for tax purposes upon request, provides for lower withholding taxes for dividends, interest and royalties, and sets out permanent establishment rules.
The text of the agreement has been made available by the Singaporean tax authority on its website, and will enter into force after it has been ratified by both countries.
