Double agreements between Singapore, Austria and Poland come into force

07.02.2014

Revised version of a double taxation agreement between Poland and Singapore came into force on the 6^th of February, 2014. The agreement will allow countries to exercise tax information exchange. The above-mentioned act applies to the following taxes: income tax, corporate profit tax (residents of Poland) and income tax (residents of Singapore).

Also Singapore and Austria exchanged notes on entry into force of Double taxation agreement. The agreement between these countries will enter into force on 1^st May, 2014. It applies to such taxes as income tax, corporate profit tax (residents of Austria) and income tax (residents of Singapore).

Based on: http://www.iras.gov.sg/irasHome/page03a.aspx?id=15518 

Expert’s opinion

Money move around the world. This is an inevitable process associated with the development of civilization. To prohibit, to restrict or to stop it somehow seems to be impossible.

But to take a lead in this process and to control it in order to be skimmed from financial flows in the form of taxes and fees is possible. Now one may not worry about the transactions between Singapore, Austria and Poland. Pay taxes and sleep well!

Yaroslav Lomakin ( Managing partner of Honest & Bright” company)