Singapore and Switzerland signed a revised Agreement for the Avoidance of Double Taxation (“DTA”) on 24 February 2011.

The DTA was signed in Singapore by Mr. Moses Lee, Commissioner of Inland Revenue, and His Excellency Jörg Al. Reding, Switzerland’s Ambassador to Singapore.

The revised DTA incorporates changes that will further encourage and facilitate cross-border trade and investment between Singapore and Switzerland. Amongst other provisions, the revised DTA includes the internationally agreed Standard for the exchange of information for tax purposes upon request, provides for lower withholding tax rates for dividends and interests, and changes the period test for determining permanent establishment and thus the liability for taxes.

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
24 FEBRUARY 2011