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Media Releases and Speeches

Media Releases and Speeches

Singapore and Ukraine have completed the procedures to bring into force their Agreement for the Avoidance of Double Taxation (“DTA”) that was signed in January 2007.  The DTA provisions shall apply to income derived on or after 1 January 2010.

2.       The DTA will encourage and facilitate cross-border trade and investment between Singapore and Ukraine through the lowering of tax barriers, and providing greater clarity on taxing rights between the two nations.  Amongst other provisions, the DTA lowers the withholding tax rates for dividends, interest and royalties. The new withholding tax rates for interest and royalties are 10% and 7.5% respectively, while the withholding tax rates for dividends are 5% or 15%, depending on the shareholding structure.

3.       The full text of the DTA will be published in the Government Gazette and is also available here.


MINISTRY OF FINANCE
18 December 2009

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Last Updated on 18 December 2009

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