The CPTPP entered into force in December 2018. A key benefit of the CPTPP is that import tariffs on 88% of Singapore’s trade with Mexico (which Singapore had no trade agreement with) have been eliminated. Other key benefits are trade facilitative Rules of Origin, greater access to services sectors, investment protection and guarantees, more opportunities in government procurement and a facilitative framework for the digital economy.
DTAs serve to relieve the double taxation of income that is earned in one jurisdiction by a resident of another. The Singapore-Mexico 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 Mexico for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
IIAs promote and protect investments between two countries. Singapore and Mexico signed a Bilateral Investment Treaty on 3 April 2011.