On or about 17 December 2019, the updated Avoidance of Double Taxation Agreement (DTA) between Singapore and the Republic of Korea, signed on 13 May 2019, will came into effect on 31 December 2019.
The updated DTA is expected to:
- enhance the cross-border trade and investment between both countries, and
- lower the withholding tax rate for royalties and expand the scope of capital gains tax exemption.
For more information, please visit the IRAS website.
Source: IRAS website, 17 December 2019