Liechtenstein and Singapore Initialed Tax Treaty

Liechtenstein and Singapore Initialed Tax Treaty

After the conclusion of negotiations, Liechtenstein and Singapore initialed a bilateral double taxation agreement in the area of taxes on income.

The Liechtenstein government reported, that tax agreement largely follows the OECD’s Model Convention, providing for an advantageous legal framework for promoting bilateral economic relations between two countries.

The agreement provides that Liechtenstein wealth structures and funds are recognized by Singapore and guarantees that Liechtenstein taxes are imposed on payments to individuals abroad. The Liechtenstein government emphasizes that the new double taxation agreement marks a further step in the expansion of its global tax treaty network. The agreement will increase the attractiveness for mutual investments and will open up new development opportunities in Asia.

It is expected that the agreement will be signed in 2013 and will be applicable from January 01, 2014. The text of the treaty will be published after the signing.

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