Singapore and Rwanda have signed an amending protocol to the “Government of the Republic of Singapore and the Government of the Republic of Rwanda for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income” (DTA), according to release published by Inland Revenue Authority of Singapore (IRAS) on 20 September 2024.
The protocol to the 2014 DTA was signed by Minister for Transport and Second Minister for Finance, Singapore, Mr Chee Hong Tat, on 18 September 2024, and Minister of Finance and Economic Planning for Rwanda, Mr Yusuf Murangwa on 13 September 2024.
The protocol amends the preamble of the DTA and introduces a new Article 26A (Entitlement to Benefits), which are part of the internationally agreed Base Erosion Profit Shifting minimum standards for countering treaty abuse.
The full text of the Protocol can be accessed on the Inland Revenue Authority of Singapore’s website. It will come into effect once ratification instruments are exchanged.
