FTAs are treaties which make trade and investment between two or more economies easier. The Turkey-Singapore Free Trade Agreement (TRSFTA) is the most comprehensive agreement ever signed in Turkish history and the most inclusionary agreement in terms of sectors comprising 18 chapters and one protocol. It covers market access for goods, trade remedies, sanitary and phytosanitary measures, technical barriers to trade, customs and trade facilitation, trade in services, investment, government procurement, competition policy, intellectual property rights, transparency and dispute settlement mechanisms. The TRSFTA also addresses non-tariff barriers to trade in three major sectors: telecommunications, electronic commerce and financial services. Through its establishment, TRSFTA covers tariff reduction or elimination for more than 95% of Singapore’s exports to Turkey.
DTAs serve to relieve the double taxation of income that is earned in one jurisdiction by a resident of another. The Singapore – Turkey double tax agreement (DTA) 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 Turkey for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes or income.