DTAA Current Affairs - 2019

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India ratifies OECD’s convention to check Tax Evasion

India has ratified Multilateral Convention to Implement Tax Treaty Related Measures (MLI) to prevent Base Erosion and Profit Shifting (BEPS). It will pave way for amendments to double taxation avoidance agreements (DTAA) with countries signatories to convention to plug revenue leakages. The provisions enshrined in framework will come into effect from fiscal year 2020-21 for Read More…

Month:  Categories: Business, Economy & Banking

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India and China sign protocol to Double Taxation Avoidance Agreement to prevent tax evasion

India and China have signed protocol to amend Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income by allowing exchange of information. Under Section 90 of Income-tax Act, 1961, India can enter into agreement with foreign country or specified territory for Read More…

Month:  Categories: International

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CBDT notifies Protocol amending DTAA between India and Kuwait

The Central Board of Direct Taxes (CBDT) has notified protocol to amend existing Double Taxation Avoidance Agreement (DTAA) between India and Kuwait. The DTAA between both countries was signed in June 2006 for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income. Key Facts The said protocol Read More…

Month:  Categories: International

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India, Finland settle Nokia tax dispute under MAP

India and Finland have reached an agreement on the tax dispute with Nokia under Mutual Agreement Procedure (MAP) system. The resolution covers disputes pertaining to Nokia India as well as Nokia Corp. This involves payment of Rs 1,600 crore, a sum that was deposited with government by Nokia in March 2018. This paves way for Read More…

Month:  Categories: Business, Economy & Banking

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Cabinet approves revision of DTAA between India and Qatar

The Union Cabinet has given its approval for revision existing Double Taxation Avoidance Agreement (DTAA) between India and Qatar. The purpose of revision is for avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income. The existing DTAA between India and Qatar was signed in April 1999 and came Read More…

Month:  Categories: Governance & Politics

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India, Hong Kong sign double tax agreement

India and Hong Kong have signed agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Hong Kong is former British colony and is special administrative region of China which enjoys a high degree of autonomy under which it has an independent taxation system. It is Read More…

Month:  Categories: Business, Economy & Banking

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India-Iran: Cabinet approves Agreement for Avoidance of Double Taxation

The Union Cabinet has approved Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on income between India and Iran. The Agreement is on similar lines as entered into by India with other countries. Key Facts The agreement will stimulate flow of investment, technology and personnel from India to Read More…

Month:  Categories: Governance & Politics

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