Singapore’s agreement with Georgia for the avoidance of double taxation (“DTA”) came into force today. 

The agreement is Singapore’s 62nd DTA and will encourage and facilitate cross-border trade and investment between Singapore and Georgia by providing greater clarity on taxing rights and minimizing the scope of double taxation between the two nations.  Amongst other provisions, the DTA provides for tax exemption in the country of source on profits derived from the operations of ships or aircraft in international traffic as well as exemption of withholding taxes for dividends, interest and royalties.

MINISTRY OF FINANCE
28 June 2010