Tax Cooperation

We continued to expand Singapore’s network of tax treaties and strengthened tax cooperation through these partnerships:

  • Updated the terms of our Avoidance of Double Taxation Agreements (DTAs) with India and South Africa
  • Signed new DTAs with Cambodia and Ethiopia
  • As of 31 Mar 2017, we have signed 84 comprehensive DTAs, of which 82 have been ratified

We are also committed to creating a pro-enterprise environment for businesses by minimising their tax risks through these engagements:

  • Concluded 10 unilateral and bilateral Advance Pricing Arrangements (APAs), which set the transfer pricing rules for transactions between related entities operating in two or more jurisdictions
  • Resolved three cases under the Mutual Agreement Procedure (MAP) Articles in our DTAs
  • As of 31 Mar 2017, we have 51 APAs and 19 MAP cases under review
  • Implementation of Automatic Exchange of Information(AEOI) based on the Common Reporting Standard
  • As of 31 Mar 2017, we have signed 21 bilateral Competent Authority Agreements (CAAs), that allow for the Automatic Exchange of Financial Account Information under the Common Reporting Standard (CRS), of which 14 have been ratified
  • Implementation of Country-by-Country Reporting (CbCR) regime in Singapore, as part of our commitment to implement the standards under the Base Erosion and Profit Shifting (BEPS) project