Double Tax Agreement Singapore Germany

Posted by on December 7, 2020

Are you looking for a German company that uses Singapore as a hub to access the ASEAN market? Read on to learn more about the benefits of bilateral agreements between Germany and Singapore. The prevention of double taxation in both Singapore and Germany will be based on exemptions or credits in relation to taxes paid in the other country. For more information on how to avoid double taxation in Singapore and for full help to open a business in Singapore, you can contact our experts. For more information on the content of the double taxation agreement with Singapore, you can ask our lawyers in Germany. If you want to use the bilateral agreements between Germany and Singapore and expand your business in Singapore, Hawksford can help. We have a dedicated German-speaking team that helps you navigate through the local business landscape and smoothly expand your business in Singapore The Singapore-Germany Double Tax Avoidance Agreement (DTA) offers facilities due to double taxation of income and capital to promote mutual economic relations between the two countries. The agreement also applies to other similar taxes collected in both states parties. Our Singapore business start-up specialists can provide you with more information about the city-state tax system. The development of international trade and multinationals has increased the need to address the issue of double taxation. As a company or individual looking for business opportunities and investments beyond your own country, you would of course deal with the problem of taxation, especially if you will have to pay twice taxes on the same income in the host country and in your country of origin.

As a result, you are trying to structure your operations to optimize your tax position and reduce costs that, in turn, would increase your global competitiveness. It is the relevance of the DBA or Singapore`s tax treaties that comes into play. In this way, the same income is taxed twice. The DBA imposes this double taxation by allowing the Singapore company to charge a tax credit of foreign tax on the same income. The Agreement on Double Tax Evasion (DBA) between Singapore and Germany provides an exemption from double taxation in the situation in which income is taxed for both countries.

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