Tax Agreement with Turkmenistan Enters into Force

30 Apr 2020

  1. The Avoidance of Double Taxation Agreement (DTA) between Singapore and the Republic of Turkmenistan, signed on 28 August 2019, entered into force on 30 April 2020.

  2. The DTA will enhance the cross-border trade and investment between both countries. It lowers the withholding tax rates on income flows arising from cross-border business activities, and stipulates the taxing rights of both jurisdictions to minimise double taxation.

  3. The full text of the DTA is available on the Inland Revenue Authority of Singapore’s website here.