Singapore and Serbia have signed tax treaty, the Inland Revenue Authority of Singapore (IRAS) announced on May 3.
The treaty clarifies the taxing rights of both countries on all forms of income flows arising from cross-border business activities and minimizes the double taxation of such income. This will lower barriers to cross-border investment and boost trade and economic flows between the two countries, IRAS said.
The full text of the treaty is available on the IRAS’ website. The treaty will enter into force after ratification by both countries.