A double taxation agreement between Singapore and Ireland, initially signed on 28 October last year, has come into force, bringing tax relations into line with OECD standards.

The agreement includes lower withholding tax rates for dividends, interest and royalties, the internationally-agreed standard for the exchange of information for tax purposes upon request and tax exemption in the country of source on profits derived from the operations of ships or aircraft in international traffic.

In December of last year a protocol to the existing DTA between Singapore and Australia entered into force.