Signing of the Protocol Amending the Japan-Singapore Tax Agreement
February 4, 2010
- “The Protocol Amending the Agreement between the Government of Japan and the Government of the Republic of Singapore for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income” (the Amending Protocol) was signed in Singapore on February 4, 2010 by His Excellency Mr. Makoto Yamanaka, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Singapore, and His Excellency Mr. Moses Lee, Commissioner of Inland Revenue, Singapore.
- The Amending Protocol revises the provisions concerning the exchange of information regarding taxes in the current Agreement in line with the international standard. After the entry into force of the Amending Protocol, the effective exchange of information based on the international standard regarding taxes between the tax authorities of both countries will be operational, and is expected to contribute to the prevention of international tax evasion and tax abuse.
- Each of the countries shall send to the other the notification confirming the completion of its internal procedures necessary for the entry into force of the Amending Protocol (in the case of Japan, the approval of the National Diet is required). The Amending Protocol shall enter into force on the thirtieth day after the date of receipt of the latter notification.