Singapore, Netherlands Amend Taxation Pact, MS

8-25-09 

SINGAPORE -(Dow Jones)- The governments of Singapore and the Netherlands have amended their bilateral tax agreement to enhance cooperation in information exchange, Singapore's Ministry of Finance said Wednesday.

The governments also said they have agreed to renegotiate double taxation "in the near future," without providing further details.

The move to amend the pact follows Singapore's endorsement of the internationally agreed Standard on Exchange of Information earlier this year after the Organization for Economic Cooperation and Development put it on a " grey list" of countries that haven't signed pacts to combat tax evasion.

Singapore has already amended its tax agreements with four other countries, including the U.K. and Denmark, earlier this week.

-By Patricia Kowsmann, Dow Jones Newswires; 65 6415 4157; patricia.kowsmann@dowjones.com

Source: Morning Star