Singapore’s Ministry of Finance reported today the signing with Australia of a protocol amending their standing Agreement for the Avoidance of Double Taxation (DTA). The Protocol was signed by Singapore’s High Commissioner, His Excellency Albert Chua, and Australia’s Assistant Treasurer, the Honourable Nick Sherry, in Canberra.
This is the sixth agreement Singapore has signed that incorporates the internationally agreed Standard for the exchange of information upon request for tax purposes.
The protocol will enter into force after Singapore’s legislative amendments to give effect to the internationally agreed Standard have been approved by Parliament and gazetted into law, and the ratification procedures have been completed by both countries.