Singapore-Brunei Darussalam Avoidance Of Double Taxation Agreement Ratified
14 Dec 2006Singapore's 54th avoidance of double taxation agreement comes into effect on 14 December 2006. The provisions of the agreement between Singapore and Brunei Darussalam will apply to all types of income earned from 1st January 2007.
2. The agreement between Singapore and Brunei Darussalam will promote greater cross-flow of trade, investment, technical know-how and expertise between the two countries. With the increasing trend of Singapore-resident companies venturing overseas, the same income may be subject to tax both in Singapore and Brunei Darussalam. The agreement will alleviate the double taxation that may arise from the cross-border transactions between the two countries.
3. The full text of the agreement is published in the Government Gazette today and will also be made available on Inland Revenue Authority of Singapore's (IRAS) website at www.iras.gov.sg
MINISTRY OF FINANCE