The government signed a Protocol amending the Agreement for the Avoidance of Double Taxation with Singapore on 20 April 2017. The signing took place in Washington D.C. between Senior Minister of State for Finance and Law, Ms Indranee Rajah, and Latvia’s Minister of Finance, Ms Dana Reizniece-Ozola.
The Protocol lengthens the threshold period for determining the presence of a permanent establishment, and lowers the withholding tax rates for dividends, interest, and royalties. These changes, and other changes, are expected to enhance cross-border investment, and boost trade and economic flows between the two countries.
The Protocol will enter into force after its ratification by both countries.
