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Singapore-Norway Double Tax Treaty

Singapore-Norway Double Tax Treaty

Singapore has signed double taxation agreements with many countries in Europe, such as Germany, Switzerland, or the United Kingdom. Among these countries is also Norway with which Singapore has concluded the first double tax treaty in 1997. The agreement was amended recently with a protocol that was enforced in 2010.

If you want to open a company in Singapore and need information on the double taxation agreements the city-state has concluded or other tax incentives, you can rely on our company registration specialists.

Taxes covered by the Singapore-Norway double tax agreement

The amended double taxation convention between Singapore and Norway provides for several taxes. If Singapore has a simpler taxation system and in its case the agreement covers the income tax, in the case of Norway the double tax treaty refers to the following taxes:

  • – the national income tax;
  • – the regional municipal income tax;
  • – the municipal income tax;
  • – the national tax imposed on the exploration and exploitation of petroleum resources;
  • – the national tax imposed to foreign artists.

Our Singapore company registration consultants can offer full information on the taxation system applicable in the city-state.

How does the Singapore-Norway double tax treaty apply?

The agreement concluded by Singapore and Norway provides for the avoidance of double taxation related to the incomes mentioned above. In order to achieve this, the two countries have agreed to provide tax allowances or credits in the case of Singapore and tax deductions or exemptions in the case of Norway. It is important to know that the Singapore-Norway double taxation treaty covers both Norwegian and Singapore residents.

Special provisions in the Singapore-Norway DTA explained by our Singapore company formation agents

Like all other Singapore’s double taxation agreements, the one with Norway contain special provisions related to permanent establishments, such as branch offices. The treaty also provides for the following reduced tax rates:

  • – a 5% rate on dividends if the beneficiary is a company owning at least 25% of the voting shares in the company paying the dividends, and a 15% rate in all other cases;
  • – a 7% rate on royalties payments.

For complete information on the special provisions of the double tax treaty with Norway, please contact our company formation representatives. We can also help Norwegian investors open a company in Singapore.