Singapore’s Bilateral Agreements with Indonesia
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ASEAN Free Trade Area (AFTA)
The AFTA covers trade in goods, investment, and services.Indonesia is a member of the Association of Southeast Asian Nations (ASEAN). The AFTA is part of the Asian Economic Community agreement among the 10 ASEAN countries, including Singapore, and includes the ASEAN Trade in Goods Agreement, which eliminates tariffs for almost all goods and services.
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Singapore–Indonesia Double Tax Avoidance Agreement (DTA)
DTAs provide relief from double taxation in the situation where income is subject to tax for both countries.
The provisions of the DTA apply to persons who are residents of one or both of the Contracting States. Please refer to IRAS for more information.
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Singapore–Indonesia Bilateral Investment Treaty (BIT)
BITs aim to promote greater investment flows between two countries by protecting the interests of their investors.The Singapore-Indonesia BIT came into force on 9 March 2021. The BIT aims to promote greater investment flows between Singapore and Indonesia by protecting the interests of Singapore and Indonesia investors. Singapore investors will be granted protection such as non-discriminatory treatment compared with other foreign investments, protection from illegal seizure of property, and the freedom to transfer capital and returns in and out of the country.s
