A comprehensive agreement for the Avoidance of Double Taxation (DTA) has been signed by Singapore and Kenya on 12 June 2018.
Some of the withholding tax rates under the DTA are as follows:
- Dividends – 5%. Since Singapore’s domestic withholding rate for dividends is nil, dividends will be exempt from withholding tax in Singapore.
- Interest – 10%. Exempted from tax if paid between the specified relevant government authorities of the contracting states.
- Royalties – 10%
The DTA is currently awaiting ratification and does not have the force of law. The full text of the DTA is available on IRAS’ website.
Source: Inland Revenue Authority of Singapore