DTAs serve to relieve the double taxation of income that is earned in one jurisdiction by a resident of another. The Singapore-Korea Agreement for the Avoidance of Double Taxation (DTA) provides relief from double taxation in the situation where income is subject to tax for both countries.
The provisions of the DTA apply to persons who are residents of one or both of the Contracting States. Please refer to IRAS for more information regarding the agreement between Singapore and South Korea for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
Under the MRA, Korea Customs Service will recognise goods exported by Singapore’s certified companies under the Secure Trade Partnership (STP) programme as being of lower risk. Likewise, Singapore Customs will recognise goods exported by South Korea’s Authorised Economic Operator (AEO) companies as being of lower risk.