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Double Taxation Agreements

Singapore and Indonesia Sign An Updated Avoidance of Double Taxation Agreement

4 February 2020

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1.     The Agreement between the Government of the Republic of Singapore and the Government of the Republic of Indonesia for the Elimination of Double Taxation with respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance (“DTA”) was signed today.

2.     The signing took place in Indonesia between Minister in the Prime Minister’s Office and Second Minister for Finance and Education, Indranee Rajah, and Indonesian Minister of Finance, Sri Mulyani Indrawati. The signing was witnessed by President Halimah Yacob and Indonesian President Joko Widodo.

3.     The current DTA between the two countries has been in effect since 1992. Amongst other changes, this update lowers the withholding tax rates for royalties and branch profits, and provides for tax exemption in the source State for certain capital gains. It also incorporates internationally-agreed standards to counter treaty abuse. The agreement will benefit businesses in both Singapore and Indonesia as well as boost bilateral trade and investment flows between the two countries.

4.     The full text of the updated DTA is available here. The updated DTA will enter into force after its ratification by both countries.
 

MINISTRY OF FINANCE
4 February 2020

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