Belarus ratified Double taxation agreement with Singapore

On 15 November 2013 Belarusian parliament ratified Double taxation agreement (DTA) between the Governments of Belarus and Singapore.

The DTA provides for lower withholding tax rates for dividends, interest and royalties than the rates under national Belarusian taxation legislation.

Key provisions of the tax treaty include the following:

• The Belarus’s withholding tax rate for dividends is 5%. Since Singapore’s domestic withholding rate for dividends is nil, dividends will be exempt from withholding tax in Singapore.
• The withholding tax rate for interest and royalties is 5%.
• The Treaty also includes an exchange of tax-related information article.

The DTA is awaiting ratification by both parties and does not have the force of law yet.

The full text of the agreement is available on the website of the Inland Revenue Authority of Singapore.