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. Double taxation relief methods are given either under a country`s national tax law or under the tax treaty. The methods available in Singapore are as follows: the development of international trade and multinationals has increased the need to examine 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. A DBA is an agreement between two countries that aims to avoid double taxation of taxpayers` income that can flow between the two countries. 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. A Singapore resident can avoid double taxation even without ADB with a given country. This is because Singapore`s domestic legislation (as explained above) exempts from foreign countries most types of income from foreign sources (including dividends, foreign branch profits and outsourcing revenues) that were collected in Singapore on June 1, 2003 or after June 1, 2003, if certain conditions are met. In summary: 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.