15 January 2013

Singapore and Vietnam had signed a Second Protocol on 12 September 2012 to amend the existing Singapore-Vietnam Avoidance of Double Taxation Agreement (‘DTA’). The Second Protocol has since come into force on 11 January 2013.

The amendments include revisions to the DTA’s articles on permanent establishment, dividends, interests, royalties 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 original bilateral agreement was concluded on 2 March 1994.

Source: Inland Revenue Authority of Singapore (IRAS)