17 July 2014
Singapore and Seychelles signed an Agreement for the Avoidance of Double Taxation (DTA) on 9 July 2014. The DTA includes the internationally agreed Standard for the exchange of information for tax purposes.
The withholding tax rates under the treaty are as follows:
- Dividends — 0%.
- Interest — 12%. Exempted from tax if paid between the relevant government authorities of the contracting states.
- Royalties — 8%.
The DTA is awaiting ratification and does not have the force of law. The full text of the DTA is available on the IRAS website.
Source: Inland Revenue Authority of Singapore