A revised double tax treaty was signed between Singapore and France on 15 January 2015.
In the case of the Singapore, the treaty covers the income tax. In the case of France, the treaty covers the income tax, corporation tax, contributions on corporation tax, social security contributions and contributions for the reimbursement of the social debt (including any withholding tax or advance payment with respect to these taxes).
Under the treaty, there are reduced withholding tax rates of 5 percent for dividends if the beneficial owner is a company which owns directly or indirectly at least 10 per cent of the share capital of the company paying the dividends. In other cases the withholding tax rate is 15 percent. The treaty also includes stronger anti-abuse provisions.
The treaty will enter into force after the two countries exchange ratification instruments.
