Agreement on Avoidance of Double Taxation with Singapore
The Agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion with Singapore is to come into force from 1st August 2005. Indian software companies rendering services in Singapore will be major gainers of the improved double taxation avoidance agreement between the two countries. The effective tax liability of these companies will drop as India and Singapore have agreed to lower the withholding tax on royalties and fee for technical services (FTS) from 15 percent to 10 percent in the revised DTAA.
Notification No Dated : July 18, 2005