Singapore and Albania signed an Agreement for the Avoidance of Double Taxation (“DTA”) on 23 November 2010.

The DTA was signed in New York by both countries’ Permanent Representatives to the United Nations.

The DTA will help boost bilateral trade and investment by minimising the double taxation of income that may occur as a result of cross-border economic activities between both countries. Amongst other provisions, the DTA includes the internationally agreed Standard for the exchange of information for tax purposes upon request, provides for lower withholding taxes for dividends, interest and royalties, and sets out permanent establishment rules.

The full text of the DTA is available here (PDF, 89KB). The DTA will enter into force after its ratification by both countries.