Comprehensive Agreement for Double Taxation Avoidance Signed Between Singapore and Brazil
On 7 May 2018, Singapore signed a comprehensive agreement with the Federative Republic of Brazil. The agreement pertained to the Avoidance of Double Taxation (DTA), and the agreement was signed between Singapore’s Minister for Foreign Affairs Dr Vivian Balakrishnan and Brazil’s Minister of Foreign Relations Aloysio Nunes Ferreira.
The agreement was signed during Mr Ferreira’s official visit to Singapore. Based on the agreements stipulated in the DTA, both countries will have taxing rights on all forms of income which arise from cross-border activities. The agreement is to help minimise the double taxation of such income, lower barriers to cross-border investment, as well as boost economic and trade flow between the two countries.
The DTA agreement will come into effect once it has been ratified by both countries. For full details about the Singapore-Brazil comprehensive DTA agreement, visit the Inland Revenue Authority of Singapore’s website.