Double Taxation Avoidance Current Affairs
India and Iran have signed nine agreements, including one on connectivity related to strategic Chabahar port and on double taxation avoidance. These agreements were signed after bilateral talks between Prime Minister Narendra Modi and Iranian President Hassan Rouhani. The bilateral talks focused to boost cooperation in key areas of security, trade and energy. This was Hassan Rouhani’s first official state visit to India after he was elected Iran’s President in 2013. He had started his three-day visit from Hyderabad as the city has a long history of cultural and religious ties with Iran.
Signed Agreements are
Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on Income. It will avoid burden of double taxation between two countries in order to promote flow of investment and services.
MoU on Exemption from Visa requirement for holders of Diplomatic Passports. It will waive requirement of visa for travel of diplomatic passport holders in each country.
Exchange of Instrument of Ratification of Extradition Treaty. It brings into effect the Extradition Treaty signed between India and Iran in 2008.
Lease Contract for Shahid Beheshti Port- Phase 1 of Chabahar during Interim Period. It was signed between Port and Maritime Organization (PMO), Iran and India Ports Global Limited (IPGL). Leasing is for 18 months to take over operation of existing port facilities.
MoU on Cooperation in the field of Traditional Systems of Medicine. It seeks to develop and strengthen cooperation in traditional systems of medicine including regulation of teaching, practice, drugs and drugless therapies.
MoU on establishment of an Expert Group on Trade Remedy Measures to promote cooperation in areas of mutual interest. It aims to establish a framework of cooperation in area of Trade Remedial Measures viz. anti-dumping and counterveiling duty.
MoU on Cooperation in the field of Agriculture and Allied Sectors. It includes joint activities, programmes, exchange of information and personnel, cooperation in field of agricultural crops, agricultural extension, horticulture, machinery, postharvest technology, plant quarantine measures, credit and cooperation, soil conservation, seed technology, livestock improvement, dairy development.
MoU on Cooperation in field of Health and Medicine. It seeks to establish comprehensive inter-ministerial and inter-institutional cooperation between two sides.
MoU on Postal Cooperation. It includes exchange of experience, knowledge and technology in e-commerce and logistics services; cooperation on philately, feasibility studies on using air and surface transit capacities of both countries.