On 15 February 2012, Singapore and the United Kingdom signed a second protocol amending the Singapore - United Kingdom Income Tax Treaty (1997), as amended by a protocol signed on 24 August 2009. The second protocol was signed in English and has not yet entered into force. The main details of the second protocol are as follows: -   the maximum rates of withholding tax are: – 0% on dividends (15% for real estate investment trusts); – 5% on interest, subject to exceptions; and – 8% on royalties; -   for the purposes of articles 10, 11 and 12, a trustee...