The development of international trade and multinationals has increased the need to address the issue of double taxation. As a company or individual looking for business opportunities and investments beyond your own country, you would of course deal with the problem of taxation, especially if you will have to pay twice taxes on the same income in the host country and in your country of origin. As a result, you are trying to structure your operations to optimize your tax position and reduce costs that, in turn, would increase your global competitiveness. It is the relevance of the DBA or Singapore`s tax treaties that comes into play. An overview of the comprehensive bilateral tax treaty between Singapore and India to avoid double taxation of income. Find out more here. Please note that agreements signed but not ratified have no legal value. We will update this page when the agreement is ratified. A DBA is an agreement between two countries that aims to avoid double taxation of taxpayers` income that can flow between the two countries. In Singapore`s list of tax treaties, you will know if your country has a tax agreement with Singapore and to know the specific provisions of this DBA. The cancellation of double taxation conventions is intended to eliminate this unfair penalty and encourage cross-border trade. If you are doing business with (or since) Singapore of a DTA country, it is unlikely that you will face double taxation. In addition, Singapore also grants unilateral tax credits to its resident companies in the event of double taxation by countries where Singapore does not have a DBA.
It is therefore unlikely that a Singapore-based company will face double taxation. The following questions are addressed: it is therefore unlikely that a Singapore-based company will ever be subject to double taxation. This is an important reason to set up your business in Singapore. DTA`S CONCLUDED BY SINGAPORE Singapore has established an extensive network of DBA or other similar tax agreements with most of the world`s major economies. These may be following species (note that in some countries – for example. B in the United Arab Emirates – Singapore has more than one kind of agreement: avoiding double taxation agreements is intended to eliminate this unfair penalty and encourage cross-border trade. Singapore has an extensive network of such agreements, covering more than 50 countries. If you are dealing with Singapore, a country that has a DBA with Singapore, you probably won`t face double taxation. In addition, even if there is no contract between a country and Singapore, a Singapore resident can benefit from Singapore`s unilateral tax credits to avoid double taxation in transactions with Singapore. If you or your company meets the residency requirements mentioned above, you can use the provisions of a Singapore DTA with Singapore as a state of residence.