Double Tax Treaty UAE – Singapore
Double Tax Treaty UAE – SingaporeUpdated on Monday 12th June 2017
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The UAE and Singapore have strengthened their economic relations by signing a double taxation agreement in 1990. Since then, this important convention was reviewed in 1997 and in 2014, where new provisions were added. The purpose of the double tax treaty was to avoid the fiscal evasion and to pay the taxes only in one of the contracting states. If you want to know more details about the double tax treaty between the UAE and Singapore you can talk to one of our lawyers in Dubai. Furthermore, you can solicit information and guidance about how to open a company in Dubai and the legal steps you need to consider.
Taxes covered by the DTT UAE – Singapore
In order to avoid paying the income and the corporate taxes twice, the double taxation treaty between the UAE and Singapore mentions that companies and natural persons registered in one of the contracting states shall be levied only in the country where the activities are registered. The salaries, the retirement funds, the dividends, the interests and the royalties are subject to taxation as stipulated by the double taxation agreement between the UAE and Singapore in one of these countries. Let us remind you that our attorneys in Dubai can explain you the legislation in this matter and can offer suitable advice for all businessmen who want to start their activities in Dubai.
Provisions of the double tax treaty UAE – Singapore
Companies with permanent establishments in the UAE or Singapore will pay the taxes only in the country where their activities generate money. As for the individuals working in Dubai, the incomes are not subject to taxation and they can benefit from their entire salaries, but considering the local taxes. If a person from Singapore with a work contract in Dubai has other incomes in the home country, these are going to be levied in accordance with the rules and regulations there.
Please feel free to contact our law firm in Dubai for legal services and complete support for businesses.