14 September 2012
Singapore and Vietnam signed a Second Protocol on 12 September 2012 to amend the existing Singapore-Vietnam Avoidance of Double Taxation Agreement (DTA).
The amendments include revisions to the DTA’s articles on permanent establishment, dividends, interest and capital gains. The revised DTA also includes the internationally agreed standard for exchange of information to allow the tax authorities of both countries to exchange information that is foreseeably relevant to the correct application of a tax convention as well as for purposes of the administration and enforcement of domestic tax laws of the contracting states.
The protocol will enter into force after its ratification by both countries, and therefore does not have the force of law as yet.
The original bilateral agreement was concluded on 2 March 1994.
The full text of the protocol is available on the IRAS website.
Source: Inland Revenue Authority of Singapore (IRAS)