Singapore signed a tax treaty with Tunisia on February 27, the Inland Revenue Authority of Singapore has announced.
Under the agreement, withholding taxes on dividends would be reduced to 5 percent, except for dividends paid to certain government organizations, which would be exempt from the tax.
Withholding tax on interest payments to banks and financial institutions would be reduced to 5 percent and would be 10 percent in other cases. Withholding taxes on royalties are set at 5 percent for technical services and 10 percent if received for use of, or the right to use, any copyright of literary, artistic or scientific work.
The signing took place in Singapore between Eng-Tay Geok Lee, Deputy Commissioner (Business Group) of the Inland Revenue Authority of Singapore (IRAS), and Hatem Chahreddine Ferjani, Secretary of State for Economic Diplomacy of Tunisia’s Ministry of Foreign Affairs.
The new Singapore-Tunisia agreement is not yet ratified.
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