India & Singapore To Extend Scope Of Double Taxation Treaty

by Mary Swire, Tax-News.com, Hong Kong

02 June 2003

After two days of negotiations concluded last week, the governments of India and Singapore have agreed to review and extend the scope of the double taxation treaty between the two countries.

During the meeting, held to review a Joint Study Group Report on a Comprehensive Economic Cooperation Agreement, the countries agreed a wide-ranging series of trade measures. An official statement announced that both parties have agreed to enter into Mutual Recognition Agreements concerning electrical goods, telecoms equipment and food products by the end of this year. In addition, it was decided that bilateral discussions should take place regarding the addition of computer supplies, pharmaceuticals and gas appliances to the agreement's remit in the near future.

Furthermore, the two sides concurred that there should be exchange of information leading to increased investment in biotech and environmental research as well as in the general healthcare and audio visual sectors.

The agreement also stipulated that the rules of origin will give preferential treatment to goods entirely produced in Singapore and India.

Recommended