Singapore and United Arab Emirates (UAE) signed a Protocol today to amend the Singapore-UAE Avoidance of Double Taxation Agreement (DTA). The signing took place in Singapore between Singapore’s Ambassador to UAE Mr Umej Singh Bhatia and UAE’s Assistant Minister for Economic Affairs H.E. Khaled Ghanim Al Ghaith.
The Protocol improves the DTA between the two countries. Revised terms include longer threshold periods to ascertain the presence of a permanent establishment and lower withholding tax rates for dividends and interest income. These changes are expected to enhance trade and investment flows between the two countries.
The full text of the Protocol is available here (PDF, 247KB). It will enter into force after ratification by both countries.
Ministry of Finance