PHNOM PENH: The Kingdom of Cambodia and the Republic of Singapore have agreed to amend the bilateral Double Taxation Agreement (DTA), aiming to make the agreement consistent with the latest international standards.
The Second Protocol Amending the Agreement between the Government of the Kingdom of Cambodia 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 was signed here on Nov. 2 between H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance and H.E. Ms. Teo Lay Cheng, Ambassador of the Republic of Singapore to Cambodia.
The purpose of the “Second Protocol” is to amend the Cambodia-Singapore DTA in line with the latest international standards, especially under the framework of the Organisation for Economic Co-operation and Development (OECD) to face the Base erosion and profit shifting (BEPS).
The “Cambodia-Singapore DTA Agreement” was signed on April 20, 2016, and entered into force on Jan. 1, 2018.
