SINGAPORE AND BRAZIL SIGN COMPREHENSIVE AGREEMENT FOR AVOIDANCE OF DOUBLE TAXATION
1. Singapore signed a comprehensive Agreement for the Avoidance of Double Taxation (DTA) with the Federative Republic of Brazil on 7 May 2018.
2. The DTA was signed by Minister for Foreign Affairs Dr Vivian Balakrishnan, and Brazil’s Minister of Foreign Relations Aloysio Nunes Ferreira, during the latter’s Official Visit to Singapore.
3. The DTA stipulates the taxing rights of both countries on all forms of income flows arising from cross-border business activities, and minimises the double taxation of such income. This will lower barriers to cross-border investment, and boost trade and economic flows between the two countries.
4. The full text of the Singapore-Brazil comprehensive DTA is available on the Inland Revenue Authority of Singapore’s website. The comprehensive DTA will enter into force after its ratification by both countries.
MINISTRY OF FINANCE
7 May 2018