BWI: GuideMeSingapore.com Publishes an Analysis of Singapore's Double Tax Agreement with India

Press release from Business Wire India
Source: GuideMeSingapore.com
Wednesday, December 22, 2010 10:00 AM IST (04:30 AM GMT)
Editors: General: People; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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GuideMeSingapore.com Publishes an Analysis of Singapore's Double Tax Agreement with India
GuideMeSingapore.com has published an in-depth analysis of the double taxation agreement between Singapore and India that helps taxpayers know the potential limits of their tax liability in each country

Singapore, Wednesday, December 22, 2010 -- (Business Wire India) -- www.GuideMeSingapore.com, a Singapore-focused portal that covers a wide range of topics on starting and doing business in Singapore has today published an in-depth analysis of the bilateral tax treaty between Singapore and India in order to prevent double taxation of income.

The Singapore-India tax treaty came into force in 1994 and was amended in 2005 with the objective of boosting cross-border between both the countries. The tax accord is set to gain significant importance with the strengthening of Singapore-India ties in recent times. According to Ms. Jacqueline Low, the Director of Singapore company registration agency Janus Corporate Solutions - the parent of GuideMeSingapore.com website, "Indian firms find Singapore a natural gateway to the Southeast Asian as well as the Western markets and we have witnessed a strong rise in the number of Indian firms incorporating their office in Singapore. Similarly, a number of home-grown companies are exploring business opportunities in the Indian sub-continent. In this context, the Singapore-India DTA plays a key role as it eliminates double taxation of income, helps taxpayers know the potential limits of their tax liabilities in each country, and facilitates the structuring of business operations at a minimum tax cost."

GuideMeSingapore.com's analysis of the Singapore-India tax treaty highlights the salient features of the agreement such as the tax treatment accorded to business profits; income from immovable property; interest; dividends; royalties; directors' fees; fees for technical services; employment income; income of artistes and sportsmen; government payments; non-government payments; payments made to visiting students, trainees, researchers, and teachers; and the method of relieving double taxation in Singapore and India. By structuring the information in an easy-to-read format GuideMeSingapore.com has made it easy for readers to gain an at-a-glance summary of the key features of the Singapore-India DTA followed by a brief explanation of each article of the treaty. The DTA guide released by GuideMeSingapore.com also incorporates the provisions of the Protocol that was signed in 2005 amending the Singapore-India DTA.

Singapore-India bilateral trade has been growing at over 30% annually and despite the global economic crisis bilateral trade reached S$22billion in 2009. There are about 4,000 Indian companies and 200,000 Indian expatriates in Singapore and their numbers are growing. Singapore companies have also been expanding their presence in India. The Indian High Commission is reported to have issued 80,000 business and travel visas to Singaporeans in 2007. Both the countries are looking at doubling their US$16-billion trade to US$32 billion over the next five years. "The Singapore-India DTA will certainly play a key role in promoting cross-border trade and investments. Tax resident individuals and companies from both Singapore and India can capitalize on the provisions of the DTA. This will facilitate the movement of capital and talent between both the countries and will inevitably result in economic gains," added Ms. Low.

The analysis of the double taxation agreement between Singapore and India is available at http://www.guidemesingapore.com/research-reports/india/singapore-india-dta

About GuideMeSingapore.com

GuideMeSingapore.com is a unit of Janus Corporate Solutions Pte Ltd - a Singapore-based firm that provides Singapore company incorporation, taxation, and staff relocation services to organizations and individuals worldwide. For more details, refer to http://www.guidemesingapore.com


CONTACT DETAILS
Andrew Chen, Janus Corporate Solutions Pte Ltd, +65 6222 7445, achen@guidemesingapore.com

KEYWORDS
PEOPLE, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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