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Singapore-France Double Taxation Treaty

Updated on Tuesday 08th November 2016

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Singapore-France-double-tax-treatySingapore and France have signed the first double taxation agreement in 1971. As the economic relations between the two countries have evolved, Singapore and France have amended the treaty several times and the last time was in 2015. The renewed Singapore-France double tax treaty was enforced at the beginning of 2016. According to the governments of both countries, the 2016 convention provides for improved business conditions for French and Singapore companies in the other country and for reduced tax rates on certain payments.

If you want to open a company in Singapore and need information on the double tax treaties the city-state has concluded you can rely on our company registration specialists.

What does the new Singapore-France double tax treaty entail?

Even if the main provisions of the initial double taxation agreement have not changed, Singapore and France have brought significant improvements to their convention. The following taxes are covered by the Singapore-France double taxation treaty:

  • -          the Singapore income tax;
  • -          the income, the corporate, the corporate contributions and the social security taxes in France.

The new agreement covers tax residents of France and Singapore, no matter if they are legal entities or natural persons. Our Singapore company formation agents can offer more information about tax registration in the city-state.

Reduced tax rates under the Singapore-France double tax agreement

The 2016 Singapore-France double taxation agreement provides for a new period of time in which an office, a construction or other representative unit of a French or Singapore company is deemed a permanent establishment. The new term is 12 months. The provision of services through an office established in one of the two states is considered a permanent establishment if it is offered for a period of more than 365 days in 15 months.

When it comes to the new tax reduced tax rates, Singapore and France have agreed upon:

  • -          a 5% rate on dividend payments if the beneficiary holds at least 10% of the shares in the company paying the dividends and a 15% rate in all other cases;
  • -          a maximum 10% rate on interest payments.

For complete information on the double taxation agreement with France, please contact our company formation representatives in Singapore.

 

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