List of agreements between two states, two blocs or one bloc and one state. Introduction to tax treaties across Asia In this issue of Asia Briefing Magazine, we see the different types of trade and tax treaties that exist between Asian nations. These include bilateral investment agreements, double taxation treaties and free trade agreements that have a direct impact on companies operating in Asia. The China-ASEAN Free Trade Area (FTA) was fully completed on January 1, 2010, and since then China has become ASEAN`s largest trading partner, while ASEAN has become China`s third largest trading partner. Singapore, with its wealth in financial and other services, has also concluded a free trade agreement with China. This agreement, signed in 2009, focuses on the service sector, in addition to the individual benefits of income tax. Singapore intends to increase its population by an additional 2 million people and many of them are expected to be affluent Chinese nationals from the mainland. Among the benefits of companies is the reduction of withholding taxes for a large number of services, including eligible fees. This is one of the reasons why Singapore is becoming a regional investment hub in China and Asia and is receiving more and more Chinese foreign investment that is going in the opposite direction – to Singapore and for reinvestments throughout Asia.
As foreign investors automatically qualify as Singaporean companies when setting up a subsidiary, they can also access Singapore`s impressive international tax treaty, including many other free trade agreements and more than 80 bilateral double taxation treaties. China is actively seeking bilateral trade and investment agreements outside the World Trade Organization. The government has priority over comparing agreements with Asia`s neighboring countries, but also with many other countries it needs for minerals, energy, food, infrastructure or geopolitical aid. The Free Trade Agreement (FTA) between China and Iceland entered into force on 1 July 2014. . . .