The double taxation agreement (DTA) concluded between Singapore and Barbados came into force on April 25, 2014. The agreement which was originally signed in July 2013 provides for a nil withholding tax rate on dividends, a 12 percent withholding rate on interest and withholding tax of 8 percent on royalties. The DTA also contains an Article relating to the exchange of tax information. This will enable the tax authorities to request information about income and assets of their taxpayers in the other jurisdiction, subject to certain conditions and safeguards.