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The India–Singapore double taxation avoidance agreement at present provides for residence based taxation of capital gains of shares in a company. The Third Protocol amends the agreement with effect from 1 April 2017 to provide for source based taxation of capital gains arising on transfer of shares in a company.
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes , inheritance taxes , value added taxes , or other taxes. [ 1 ]
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
Singapore and India successfully concluded the second review of the India–Singapore Comprehensive Economic Cooperation Agreement (CECA) on 1 June 2018 in the presence of India Prime Minister Narendra Modi and Singapore Prime Minister Lee Hsien Loong. [5] It allows for the movement of four types of business people between Singapore and India.
India; New Zealand [118] Turkey; India Australia (on negotiation) [119] Sri Lanka (separate from the South Asia Free Trade Agreement) Chile (on negotiation) [116] New Zealand (on negotiation) [120] Hong Kong (on negotiation) European Union (to be concluded before 2010 year end) EFTA
Tax treaties tend not to exist, or to be of limited application, when either party regards the other as a tax haven. There are a number of model tax treaties published by various national and international bodies, such as the United Nations and the OECD. [208] Treaties tend to provide reduced rates of taxation on dividends, interest, and royalties.
On 25 April 2014 a bilateral Singapore-Barbados Double Taxation Agreement treaty came into effect [38] with subsequent modifications in 2021. [39] Brazil: Brazil has an embassy in Singapore. Singapore has an embassy in Brasília. Canada: See Canada–Singapore relations. Canada has a High Commission in Singapore.
In 1994, India and Singapore began their annual naval combat exercise, now called "SIMBEX" Several warships from India and Singapore took part in this interoperable combat exercise. [14] In 2003, India and Singapore signed a Defence Cooperation Agreement, allowing Singapore army and air force to conduct training on Indian soil. [15]