1. Singapore signed a comprehensive Agreement for the Avoidance of Double Taxation (DTA) with the Hellenic Republic (“Greece”) today.
2. The signing took place in Singapore between Minister for Foreign Affairs, Vivian Balakrishnan, and Minister for Foreign Affairs of Greece, Georgios Katrougkalos.
3. The DTA will enhance the cross-border trade and investment between both countries. It lowers the withholding tax rates on all forms of income flows arising from cross-border business activities, and stipulates the taxing rights of both jurisdictions to minimise double taxation.
4. The full text of the Singapore-Greece DTA is available on the Inland Revenue Authority of Singapore’s website here
. The DTA will enter into force after ratification by both countries.
MINISTRY OF FINANCE
30 May 2019