The cancellation of double taxation conventions is intended to eliminate this unfair penalty and encourage cross-border trade. If you are doing business with (or since) Singapore of a DTA country, it is unlikely that you will face double taxation. In addition, Singapore also grants unilateral tax credits to its resident companies in the event of double taxation by countries where Singapore does not have a DBA. It is therefore unlikely that a Singapore-based company will face double taxation. The themes discussed are: the prevention of double taxation conventions aims to eliminate this unfair penalty and encourage cross-border trade. Singapore has an extensive network of such agreements, covering more than 50 countries. If you are dealing with Singapore, a country that has a DBA with Singapore, you probably won`t face double taxation. In addition, even if there is no contract between a country and Singapore, a Singapore resident can benefit from Singapore`s unilateral tax credits to avoid double taxation in transactions with Singapore. An overview of the comprehensive bilateral tax treaty between Singapore and India to avoid double taxation of income. Find out more here.

The development of international trade and multinationals has increased the need to address the issue of double taxation. As a company or individual looking for business opportunities and investments beyond your own country, you would of course deal with the problem of taxation, especially if you will have to pay twice taxes on the same income in the host country and in your country of origin. As a result, you are trying to structure your operations to optimize your tax position and reduce costs that, in turn, would increase your global competitiveness. It is the relevance of the DBA or Singapore`s tax treaties that comes into play. If you or your company meets the residency requirements mentioned above, you can use the provisions of a Singapore DTA with Singapore as a state of residence. Note that even if there is no DBA between Singapore and another country with which you do business, you may still be able to avoid double taxation by using Singapore`s unilateral tax credits for Singapore residents. In this way, the same income is taxed twice. The DBA imposes this double taxation by allowing the Singapore company to charge a tax credit of foreign tax on the same income. A DBA is an agreement between two countries that aims to avoid double taxation of taxpayers` income that can flow between the two countries.

Since foreign income transferred to Singapore is no longer taxable for individuals, double taxation (under tax treaties) or unilateral tax credits (provided for by national tax legislation) is no longer relevant. DTA`S CONCLUDED BY SINGAPORE Singapore has established an extensive network of DBA or other similar tax agreements with most of the world`s major economies. These species may be the following species (note that in some countries – for example. B in the United Arab Emirates – Singapore has more than one kind of agreement, so it is unlikely that a Singapore-based company will ever suffer from double taxation.