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Singapore, France revise agreement to avoid double taxation

Xinhua, January 16, 2015 Adjust font size:

Singapore and France signed a revised agreement for the avoidance of double taxation on Thursday, the two sides said in a joint press release on Friday.

The revised agreement offers improved terms for businesses such as lower withholding tax rates for dividends and includes anti- abuse provisions, according to the release.

It will enter into force after ratification by both countries.

Singapore's Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam and French Minister of Finance and Public Accounts Michel Sapin expressed confidence that the revised agreement would further enhance trade and investment flows.

They also noted both countries' excellent history of tax cooperation on exchange of information, as well as commitments to implementing the new global standard on automatic exchange of information by 2018, the press release said. Endi