1. The revised Singapore-Luxembourg Avoidance of Double Taxation Agreement (DTA) entered into force on 28 December 2015.
2. The revised DTA lowers the withholding tax rates for dividends, interest and royalties, lengthens the period test for determining permanent establishments as well as provides a more mutually favourable tax treatment for international air transport and shipping income, amongst other changes. These changes are expected to enhance trade and investment flows between the two countries.
3. The full text of the DTA is available on the Inland Revenue Authority of Singapore’s (IRAS) website here.
Ministry of Finance
28 December 2015