Singapore has participated in the negotiation of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument” or “MLI”). The MLI is intended to allow jurisdictions to swiftly amend their tax treaties to implement the tax treaty related Base Erosion and Profit Shifting (BEPS) recommendations.
On or about 1 July 2019, the amendments made by the MLI to Singapore’s DTAs with Georgia and the Netherlands took effect. These amendments are via the following Orders:
- Income Tax (Singapore — Georgia) (Avoidance of Double Taxation Agreement) (Modifications to Implement Multilateral Instrument) Order 2019
- Income Tax (Singapore — Netherlands) (Avoidance of Double Taxation Agreement) (Modifications to Implement Multilateral Instrument) Order 2019
Source: IRAS website, 1 July 2019