30 Nov 2015

Singapore and South Africa signed a new Avoidance of Double Taxation Agreement (DTA) on 30 November 2015.  Mr Heng Swee Keat, Minister for Finance, and Mr Nhlanhla Musa Nene, South Africa’s Minister of Finance signed the DTA.

The new DTA will replace the existing DTA, signed on 23 December 1996, when it enters into force after its ratification by both countries.  Among the changes, the new DTA updates the provisions for determining permanent establishments, lowers the withholding tax rate for dividends and provides a more mutually favourable tax treatment for capital gains. 

The full text of the DTA is available here (PDF, 255KB).

Ministry of Finance