Singapore, France revise agreement to avoid double taxation

SINGAPORE: A revised Agreement for the Avoidance of Double Taxation (DTA) was signed between the Republic and France on Thursday (Jan 16).

The revised DTA offers improved terms for businesses such as lower withholding tax rates for dividends and includes anti-abuse provisions, according to a joint press release on Friday.

The signing of the DTA took place here between Singapore’s Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam and the French Minister of Finance and Public Accounts Michel Sapin.

Both ministers expressed confidence that the revised DTA would further enhance trade and investment flows. They also noted both countries’ excellent history of tax cooperation on exchange of information, as well as commitments to implement the new global standard on automatic exchange of information by 2018, the press release stated.

The revised DTA will enter into force after ratification by both countries, it added.