FTAs are treaties which make trade and investment between two or more economies easier. The Comprehensive Economic Cooperation Agreement (CECA) is a free trade agreement between Singapore and India. Through its establishment, CECA covers tariff reduction or elimination for 82% of Singapore’s exports to India.
In addition, as a member state of ASEAN, Singapore is part of the ASEAN Free Trade Area. Through the establishment of the ASEAN – India Free Trade Area (AIFTA), Singapore and India have eliminated or reduced tariffs for 90% of the goods traded between ASEAN and India.
DTAs serve to relieve the double taxation of income that is earned in one jurisdiction by a resident of another. The Singapore – India double tax agreement provides 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 regarding the agreement between Singapore and India for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.