Singapore and Mexico Enhance Tax Cooperation

1. Singapore and Mexico signed a protocol to incorporate the new internationally agreed Standard for the exchange of information upon request for tax purposes in their standing Agreement for the avoidance of double taxation ("DTA") on 29 September 2009.

2. Mr Ng Wai Choong, Deputy Secretary (Policy), Ministry of Finance, signed the protocol with Mr José Antonio Meade Kuribreña, Underminister of Revenue, the Mexican Ministry of Revenue and Public Credit, in Mexico City.

3. The full text of the protocol will be made available on the IRAS’ website at http://www.iras.gov.sg. The protocol will enter into force after Singapore’s legislative amendments to give effect to the internationally agreed Standard have been approved by Parliament and gazetted into law, and the ratification procedures have been completed by both countries.