Singapore and Serbia Sign Avoidance of Double Taxation Agreement03 May 2021
Singapore and Serbia have signed the Agreement between the Government of the Republic of Singapore and the Government of Republic of Serbia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance (“DTA”).
2. The DTA was signed by Minister for Education and Second Minister for Finance, Mr Lawrence Wong, and Minister of Finance for Serbia, Mr Siniša Mali.
3. The DTA clarifies the taxing rights of both countries on all forms of income flows arising from cross-border business activities, and minimises the double taxation of such income. This will lower barriers to cross-border investment and boost trade and economic flows between the two countries. Key terms of the Agreement can be found in the Annex.
4. The full text of the 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
3 May 2021
Annex: Summary of key terms in the Singapore-Serbia DTA
Article in the DTA
Key terms in the DTA
Article 5, Permanent Establishment
Article 10, Dividends
Article 11, Interest
Article 12, Royalties