Singapore and Laos sign agreement for avoidance of double taxation

To jumpstart cross-border trade and investment.

Singapore and Laos signed an Agreement for the Avoidance of Double Taxation (DTA) on 21 February 2014.

The DTA is expected to encourage and facilitate cross-border trade and investment between Singapore and Laos by providing greater clarity on taxing rights and minimising the scope of double taxation between the two countries. A

mongst other provisions, the DTA provides for lower withholding tax rates on cross-border payments of dividends, interest and royalties.

The DTA was signed in Singapore by Mrs Josephine Teo, Senior Minister of State for Finance and Transport, and Mr Phouphet Khamphounvong, Minister of Finance of the Lao People's Democratic Republic.