1.         Singapore and Ireland signed an Agreement for the avoidance of double taxation (“DTA”) on 28 October 2010.

2.         The signing took place in Singapore between Mr. S Iswaran, Senior Minister of State for Trade and Industry and Education, and Mr. Conor Lenihan T.D., Ireland’s Minister for Science, Technology, Innovation and Natural Resources.
 
3.         The DTA will help boost bilateral trade and investment by minimising the double taxation of income that may occur as a result of cross-border economic activities between both countries. Amongst other provisions, the DTA includes the internationally agreed Standard for the exchange of information for tax purposes upon request, provides for lower withholding taxes for dividends, interest and royalties, and sets out permanent establishment rules.

4.         The full text of the DTA is available on the Inland Revenue Authority of Singapore’s (IRAS) website. The DTA will enter into force after its ratification by both countries.
 
MINISTRY OF FINANCE
28 OCTOBER 2010