The New DTA Singapore-Man

The New DTA Singapore-Man

September 21, 2012 Singapore and the Isle of Man signed an Agreement for the avoidance of double taxation (“DTA”).

The signing ceremony took place at the Singapore High Commission in London, between Eddie Teare, the Isle of Man’s Treasury Minister, and T Jasudasen, the High Commissioner of Singapore.

The withholding tax on interest and royalties is to be capped at 12% and 8%.

The DTA incorporates the internationally agreed Standard for the exchange of information for tax purposes. Dividends paid by a company which is a resident of a Contracting Party to a resident of the other Contracting Party and which are beneficially owned by that resident shall be taxable only in that other Party.

The full text of the DTA is available here. The DTA will enter into force after its ratification by both countries.

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