Double Taxation Avoidance Agreement Pib

With respect to India, section 90 of the Income Tax Act 1961 authorizes the central government to enter into an agreement with a foreign country or territory to avoid double taxation of income for the exchange of information in order to prevent tax evasion or evasion of the income tax to be levied under the Income Tax Act. 1961. The DBA will facilitate the elimination of double taxation. A clear distribution of tax rights between the Contracting States by the agreement will provide tax certainty for investors and companies in both countries, while increasing the flow of investment by setting tax rates in the source State on interest, royalties and royalties on technical services. The agreement and protocol implements minimum standards and other recommendations from the OECD Core Project on Benefit Erosion (BEPS). The inclusion in the agreement of the preamble text, a main use test, a general anti-abuse provision, as well as a simplified clause limiting benefits under the BEPS project, will reduce tax planning strategies that exploit loopholes and divergences in tax rules. The EU Cabinet, chaired by Prime Minister Shri Narendra Modi, today approved the signing of the Agreement on the Prevention of Double Taxation (DBAA) and the Protocol between the Republic of India and the Republic of Chile on the Elimination of Double Taxation and the Prevention of Tax Evasion and Avoidance with Respect to Income Tax. The deal will boost the flow of investment, technology and personnel from India to Iran and vice versa and prevent double taxation. The agreement provides for the exchange of information between the two parties in accordance with the latest international standards. This will improve tax transparency and help reduce tax evasion and avoidance. . The EU`s cabinet, chaired by Prime Minister Shri Narendra Modi, approved an agreement between India and Iran on the prevention of double taxation and the prevention of tax evasion.

one. The current DAC between India and Brazil was signed on 26 April 1988 and amended by an information exchange protocol signed on 15 October 2013. This protocol amended the DAC in several other respects. . After the approval of the cabinet, the necessary formalities for the approval of the agreement and protocol are completed. Implementation would be monitored and reported by the ministry. . b. The amended DTAC also implements the minimum standards and other recommendations of the OECD G-20 Core Project on Erosion and Profit Shifting (BEPS). . The agreement is similar to what India has concluded with other countries. The proposed agreement also meets the minimum standards related to the treaty under the OECD Basic Project on Erosion and Profit (BEPS), in which India has participated on an equal footing.

The existing double taxation agreement (DBAA) with Qatar was signed on 7 April 1999 and entered into force on 15 January 2000.The revised DBAA updates the provisions on the exchange of information, contains provisions limiting benefits to prevent the purchase of contracts and adapts other provisions to recent contracts in India. The revised DBAA meets the minimum standards for contractual abuse under Action 6 and the mutual agreement procedure under Action 14 of the OECD Base Erosion & Profit Shifting (BEPS) G-20 project, in which India participated on an equal footing. . . .