On 31 October 2014, officials from Singapore and the United Arab Emirates signed a protocol to the 1995 income tax treaty between the two countries. The protocol is the first to amend the treaty.
The main amendments of the protocol are as follows:
Withholding Tax Rates
- Dividends - reduced to 0% (originally 5%)
- Interest - reduced to 0% (originally 7%)
- Royalties - payments for the use of, or the right to use, industrial, commercial or scientific equipment is removed from the definition of …