FTAs are treaties which make trade and investment between two or more economies easier. The Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA) entered into force in September 2013. The FTA aims to enhance Singapore's growing economic relations and trade with the Gulf Cooperation Council (GCC), consisting of six countries in the Middle East – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. The GSFTA eliminates most tariffs (up to 99%) on Singapore exports into the GCC. Find out how you can benefit from tariff concessions with Saudi Arabia.
DTAs serve to relieve the double taxation of income that is earned in one jurisdiction by a resident of another. The Singapore-Saudi Arabia DTA which entered into force on 1 July 2011 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 Saudi Arabia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
Singapore and Saudi Arabia signed a BIT in April 2006 and came into force in October 2007. The BIT aims to promote greater investment flows between Singapore and Saudi Arabia by protecting the interests of Singaporean and Saudi investors. Singapore investors will be granted protection such as non-discriminatory treatment compared with other foreign investments, protection from illegal seizure of property, and the freedom to transfer capital and returns in and out of the country.