UniCredit Bank Czech Republic and Slovakia,a.s.
Summary:
The Protocol to Double Taxation Treaty (DTT) between Singapore and the Czech Republic was signed
Mon, 08/07/2013
Please be advised that Singapore and the Czech Republic signed the Protocol to DTT on June 26, 2013. This Protocol is an addition to DTT from the year of 1997.
The Protocol mainly stipulates the change of approach to the exchange of information on taxes.
The Protocol will enter into force after the standard legislative processes are completed in both countries.
Impact on investors:The new Protocol to DTT signed between Singapore and the Czech Republic will improve the coordination of information exchange of tax authorities in Singapore and the Czech Republic leading to the reduction of potential income and property tax evasions after the ratification processes of the new Protocol are completed in both countries.