Under the amended treaty with Singapore, for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate. Full rate will apply from April 1, 2019.
The revised treaty provides that gain made from sale of shares that were acquired before April 1, 2017 will be taxable only in the country where the seller is a resident.
But on shares acquired on or after April 1, 2017, capital gains tax will be levied in the country where the gains are made.
