Singapore and Turkmenistan Sign Agreement for Avoidance of Double Taxation

28 Aug 2019

1. Singapore signed a comprehensive Agreement for the Avoidance of Double Taxation (DTA) with Turkmenistan today.

2. The signing took place in Singapore between the Senior Minister of State for Trade and Industry of Singapore, Dr Koh Poh Koon, and Deputy Chairman of the Cabinet of Ministers of Turkmenistan, Mr Gochmyrat Myradov.

3. The DTA will enhance the cross-border trade and investment between both countries. It lowers the withholding tax rates on income flows arising from cross-border business activities, and stipulates the taxing rights of both jurisdictions to minimise double taxation.
4. The full text of the Singapore-Turkmenistan DTA is available on the Inland Revenue Authority of Singapore’s website here. The DTA will enter into force after ratification by both countries.