·China and Indonesia signed a tax treaty protocol and memorandum of understanding

On March 26, under the witness of President Xi Jinping and Indonesian President Zoco, Wang Jun, Director of the State Administration of Taxation, and Indonesian Ambassador to China Su Geng Laharzo signed the "Government of the People's Republic of China and the Government of the Republic of Indonesia" on the proceeds. Memorandum of Understanding on the Agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion and the Agreement between the Government of the People's Republic of China and the Government of the Republic of Indonesia on the Avoidance of Double Taxation and Prevention of Fiscal Evasion of Income.
The Protocol stipulates that the two countries' mutual exemption of value-added tax for the airline companies of the other country engaged in international transportation will further reduce the tax burden of enterprises and promote economic and trade exchanges and cooperation between the two countries. The memorandum of understanding sets out the financial institutions that each party can enjoy tax-free treatment, and provides certainty for the financial institutions wholly-owned by the two governments to obtain interest-free tax treatment in the other country.

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