(August 26, 2014)

On August 26, 2014 the government of the Republic of Singapore and the government of the Republic of Rwanda signed an Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The agreement will enter into force after its ratification by both countries.

The existing taxes to which the agreement shall apply are in particular: in Singapore: the income tax and in Rwanda: the personal income tax, the corporate income tax, the withholding taxes and the tax on rent of immovable properties.

Under the agreement the withholding tax rate for dividends is set at 7.5%. The withholding tax rates for interest and royalties are both set at 10%.

Click here to be forwarded to the press release issued by the Ministry of Finance of Singapore, which will open in a new window. This press release contains a link to the text of the agreement.

Copyright - internationaltaxplaza.info