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Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed with Singapore

Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income signed with Singapore

17.07.2014

On Wednesday 9th July 2014, the Republic of Seychelles and the Republic of Singapore signed anĀ Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.

The agreement was signed in New York on behalf of Seychelles by Mrs Marie-Louise Potter, Ambassador Extraordinary and Plenipotentiary, and Permanent Representative of Seychelles to the United Nations, and on behalf of Singapore by Ms Karen Tan, Ambassador Extraordinary and Plenipotentiary, and Permanent Representative of Singapore to the United Nations.

The basic objective of such an agreement is to avoid taxation of income in both countries and to promote and foster economic trade and investment between the two countries. The agreement thus provides for certainly with respect to taxes payable on incomes generated from investments made between both countries. The signing of this agreement will also further strengthen the existing good relations between the two island states.

Both sides shall notify each other other upon completion of the procedures required by their laws for the bringing into force of the agreement.

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