The government of Singapore has announced that the Singapore-Tunisia tax treaty, signed February 27, 2018, entered into force today.
Under the agreement, withholding taxes on dividends are 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 is reduced to 5 percent and is 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 Singapore government said the treaty will lower barriers to cross-border investment and boost trade and economic flows between the two countries.
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