On 24 August 2016, officials from Ethiopia and Singapore signed an income tax treaty. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Ethiopian tax on income and profit, and the tax on income from mining, petroleum and agricultural activities. It covers Singapore income tax. Withholding Tax Rates Dividends - 5% Interest - 5% Royalties - 5% Capital Gains The following capital gains derived by a resident of one Contracting State may be taxed by the other State: Gains from the alienation of immovable property situated in the other State; Gains from...