Singapore-Morocco avoidance of double taxation agreement takes effect

See to which taxes the agreement applies.

The Singapore-Morocco avoidance of double taxation agreement (DTA) has entered into force, according to the Inland Revenue Authority of Singapore (IRAS).

The DTA will facilitate trade and investment flows between Singapore and Morocco by providing greater clarity on taxing rights and minimising the scope of double taxation between the two countries, the IRAS added.

Amongst other provisions, the DTA provides for tax exemption in the country of source on profits derived from the operations of ships or aircraft in international traffic and lower withholding tax rates for dividends and interest.

The agreement will apply to taxes on income imposed on behalf of a Contracting State or of its political subdivisions or local authorities, irrespective of the manner in which they are levied.
Also, there shall be regarded as taxes on income all taxes imposed on total income, or on
elements of income including taxes on gains from the alienation of movable or immovable
property.
The existing taxes to which the agreement shall apply are the income tax, in the case of Singapore; and the income tax and the corporation tax, the case of Morocco.

The full text of the DTA can be read here.

https://www.iras.gov.sg/irashome/uploadedFiles/Quick_Links/Singapore-Morocco%20DTA%20(Ratified)(15%20Jan%202014).pdf

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