26 December 2013

Singapore and Brazil signed an Agreement for the Avoidance of Double Taxation (DTA) on profits derived from international air and shipping transport on 20 December 2013.

The DTA provides for mutual income tax exemption of profits derived from the operation of aircraft and ship in international traffic by air and shipping enterprises of the other country.

The DTA entered into force on 20 December 2013 and its provisions shall have effect from 1 January 2014.

The full text of the DTA is available on the IRAS website.

Source: Inland Revenue Authority of Singapore (IRAS)