Indonesia, Singapore Update DTA Agreement

Minister of Finance and a Singapore delegate sign a bilateral agreement witnessed by President Jokowi and Singapore President Halimah Yacob at the Bogor Presidential Palace, West Java, Tuesday (4/2). (Photo: Public Relations/Dindha Moerti)

Indonesia and Singapore have decided to update their double-tax avoidance agreement.

“I am very satisfied with the progress of our cooperation, including the signing of the first one, namely the completion of negotiation on the agreement on double-tax avoidance which we have witnessed and signed,” President Joko “Jokowi” Widodo told reporters at the Bogor Presidential Palace, West Java, Tuesday (4/2).

The two countries, according to the President, also agreed that Indonesia’s Directorate General of Customs and Excise and Singapore Police Coast Guard would cooperate to enforce customs law.

“The third one is the implementation of raising fieldship program in the form of training for a number of regional heads from Indonesia,” President Jokowi stated.

Bank Indonesia and the Monetary Authority of Singapore, President Jokowi stated, also agreed to extend the repurchase agreement in November 2019.

“And the fifth is the realization and strengthening of cooperation in industrial training 4.0,” the President added. (RSF/EN)

Translated by: Fairuzzamani Inayatillah
Reviewed by: Mia M. Bonaedy