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Singapore And Qatar Sign Agreement For The Avoidance Of Double Taxation

28 November 2006

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Singapore and Qatar signed an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income ("DTA") today.

2. The signing took place in conjunction with Prime Minister Lee Hsien Loong's official visit to Qatar. Mrs Lim Hwee Hua, Minister of State for Finance and Transport, signed on behalf of Singapore while Mr. Yousef Hussain Kamal, Minister of Finance, signed on behalf of Qatar.

3. The DTA clarifies the taxing rights of each country on all forms of income, and provides for the elimination of double taxation on income that may occur as a result of cross-border economic activities between the two countries.

4. With the signing of this Agreement, Singapore has signed comprehensive DTAs with 59 countries. The DTA will enter into force after its ratification by both countries. The full text of the DTA will be made available on the Inland Revenue Authority of Singapore's (IRAS) website at www.iras.gov.sg

MINISTRY OF FINANCE

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