India, Indonesia Signed Double Taxation Avoidance Agreement

India and Indonesia signed an agreement to avoid double taxation and prevent fiscal evasion with respect to taxes on income on 27 July 2012.

The agreement was signed by Indonesian Foreign Affairs Minister Dr. R. M. Marty Natalegawa and his Indian counterpart S.M Krishna at the Hyderabad House in New Delhi. Apart from the agreement, both sides also signed the agreed minutes of thefourth Joint Commission Meeting between India and Indonesia.

Highlights of the Meet

•    Both the countries,  reviewed the entire state of bilateral relationship including trade and commerce.

•    Two nations have also agreed to strengthen the bilateral relationship into a strategic partnership

Both countries share a warm relationship on account of the solid foundation of historical and cultural ties. Both countries are also hopeful of achieving the trade target of 25 billion US Dollars by 2015