Singapore-Armenia tax treaty enters into force

The tax treaty signed between the governments of Armenia and Singapore in July 2019 entered into force on December 23 and will be effective January 1, 2022.

The treaty establishes a 0% withholding tax rate for dividends if the beneficial owner is a company that holds at least 25% of the capital of the paying company or that has invested the equivalent of USD 300,000 or more in the share capital of the paying company. In other cases, the dividend withholding rate is 5%.

For both interest and royalties, the treaty sets the withholding tax rate at 5%.