Bhutan and Singapore have concluded the second and final round of income tax treaty negotiations, aiming to eliminate double taxation and clarify taxing rights for cross-border activities.
Bhutan’s Department of Revenue and Customs reported that officials from Bhutan and Singapore completed the second and final round of negotiations for an income tax treaty on 6 March 2026.
Officials resolved outstanding issues in the negotiations, reaching agreements that strengthen economic ties. The tax treaty will prevent double taxation and clarify taxing rights for cross-border businesses and individuals.
The agreement is also expected to promote international trade and investment by creating a transparent tax framework, ensuring fair treatment of taxpayers, and enhancing cooperation between the tax authorities, including the exchange of information to tackle tax evasion.
Any resulting treaty will be the first of its kind between the two countries and requires signing and ratification before it can take effect.
