28 June 2013
Singapore and the Czech Republic have signed a Protocol on 26 June 2013 to enhance co-operation by amending their standing Agreement for the Avoidance of Double Taxation (DTA) to incorporate the internationally agreed Standard for the exchange of information for tax purposes.
In addition, the Protocol lowers the royalty withholding tax rates (5% – any industrial, commercial or scientific equipment; 10% – any industrial, commercial or scientific equipment) and extends mutually favourable tax treatment for shipping income and capital gains.
The original DTA was signed on 21 November 1997.
The protocol will enter into force after its ratification by both countries.
Source: Inland Revenue Authority of Singapore