Posted on 04-Mar-2018

Asjd & Associates

Singapore and Sri Lanka revised Avoidance of Double Taxation Agreement

New DTA between Singapore and Sri Lanka has come to effect as per the gazette notification No 1993/11 dated 26 November 2016 with effect from 01.01.2018 for WHT and from Y/A 2018/19 for Income tax.

Amongst other changes, the revised DTA lowers the withholding tax rates for dividends and royalties, and updates the provisions for determining permanent establishments. It also incorporates the internationally agreed Standard for exchange of information for tax purposes. These changes are expected to enhance trade and investment flows between the two countries.
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