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China-Singapore deal on tax cooperation takes effect

(Xinhua)
Updated: 2009-12-12 10:36

The 2nd protocol to a standing agreement between China and Singapore to avoid double taxation and prevent fiscal evasion of income taxes took effort on Friday.

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According to Singapore's Ministry of Finance, the 2nd protocol which entered into force on Dec 11 was signed on Aug 24. Its provisions shall go into force as of Jan 1, 2010.

China and Singapore first signed an agreement in this regard on April 18, 1986.

The 2nd protocol was signed by Wang Li, deputy commissioner of the State Administration of Taxation for China and Mosses Lee, Commissioner of Inland Revenue for Singapore.
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