Book a meeting
Insights

New treaty between Serbia and Singapore offers exemption from Serbia dividend withholding tax for dividends to the Government of Singapore

Explore how the new Serbia-Singapore tax treaty impacts dividend withholding tax exemptions for the Singaporean government.

A new tax treaty between Serbia and Singapore will enter into force 1-1-22. It will offer an exemption from Serbia dividend withholding tax for dividend payments to the Government of Singapore, including entities and other statutory bodies wholly owned by the Government.

It is interesting to see that special purpose investment funds or arrangements are defined as being in scope of the exemption. A detailed list of entities is being mentioned. Serbia is currently classified as a Europe / CIS Frontier Market by MSCI 

Link to the new treaty

Jeroen van der Wal

Business Development Representative

Topics

Unlock your 

withholding tax recovery potential

Get in touch and see for yourself how you can take control and optimize your withholding tax returns

Book a meeting

Insights you might also like

MAY 27, 2026 • 6 minute read

SKAT Reverses Course: Denmark Extends Full Treaty Exemption to Canadian Master Trust Funds

Learn how Denmark now grants Canadian Master Trust pension funds a 0% dividend withholding tax exemption under the Canada-Denmark tax treaty.

Tax news

APRIL 30, 2026 • 6 minute read

SKAT v Solo Capital Partners: The Landmark Cum-Ex Judgment That Could Reshape Tax Fraud Litigation

Denmark’s tax authority, SKAT, proved in the English courts that billions were paid out through invalid withholding tax refund claims connected to cum-ex trading. Yet the authority still lost one of the largest fraud cases ever heard in the English Commercial Court.

Tax news

MARCH 1, 2026 • 4 minute read

CJEU Case C-241/25: Why Sweden’s Withholding Tax Rules for Loss-Making Companies Could Face a Major EU Law Challenge

On 10 February 2026, the Grand Chamber of the Court of Justice of the European Union (CJEU) heard oral arguments in Case C-241/25, a potentially significant development for EU-based investors with exposure to Swedish equities. The case concerns whether Sweden can require foreign companies to recalculate their tax position under Swedish rules before reclaiming dividend withholding tax (WHT).

Tax news