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Indonesia, under the agreement, will remove tariffs from nearly all Australian products exported to Indonesia while all Indonesian products exported to Australia will be free of tariffs. [2] Australian firms would be permitted to hold a majority stake in Indonesian telecommunications, transport, health and energy firms.
The Timor Gap refers to the 60,000 square kilometre "coffin-shaped" area between Australia and East Timor. [6] The area contains several oil and gas reserves. The exact value of the resources contained in the Timor Gap is unknown, but three of the largest reserves, Elang-Kakatua, Bayu-Undan and Sunrise-Troubadour are estimated to hold US$17 billion worth of oil.
August 2023 also saw Russia pass a decree (No. 585) to partially suspend certain sections of double tax treaties (DTT) with unfriendly countries which results in standard withholding taxes applying, 15% on dividends, and 20% on interest payments, royalties and non dividend profit distributions. Some double taxation will also now occur.
No substantial treaty has been entered into between the government of Australia and the Indigenous people of Australia. [1] [2] Some prior treaties exist in pockets, such as Batman's Treaty, but these are not substantial government treaties, i.e. treaties between the Government of the day and the traditional custodians of the land.
SYDNEY (Reuters) -Australia and Indonesia agreed a treaty-level defence cooperation agreement which allow Australian and Indonesian militaries to operate from each other's countries, Australian ...
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. [1] Such treaties may cover a range of taxes including income taxes , inheritance taxes , value added taxes , or other taxes. [ 2 ]
This is taken to allow Australia to continue with petroleum exploration and exploitation activities in the Laminaria-Coralina and other fields it claims to be located in its territorial waters as a result of the Agreement between the Government of the Commonwealth of Australia and the Government of the Republic of Indonesia Establishing Certain ...
Australia and Indonesia have established diplomatic relations since 27 December 1949, [1] when Australia recognised Indonesia's independence. [2] [3] Historically, contact between Australians and Indonesians began as early as the 16th century prior to the arrival of the Europeans, through Makassan interactions with indigenous Australians on Australia's western and northern coasts.