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

2. The agreement is Singapore’s 68th DTA and will encourage and facilitate cross-border trade and investment between Singapore and Panama, by providing greater clarity on taxing rights and minimising the scope of double taxation between the two nations.  The DTA includes the internationally agreed Standard for the exchange of information for tax purposes upon request.

3. The full text of the DTA is available on the Inland Revenue Authority of Singapore’s (IRAS) website at www.iras.gov.sg. 

MINISTRY OF FINANCE
19 December 2011