India-UK Current Affairs - 2019

Category Wise PDF Compilations available at This Link

U.K. to slash aid to India

Britain is planning to slash its £280 million a year aid to India from 2015 following increasing domestic pressure on Prime Minister David Cameron to halt funding emerging economies such as India, China and Brazil at a time when Britain itself faces a serious economic crisis.

The funds, however, will still be diverted to aid projects abroad, rather than helping to ease the deficit or fund public services in the country.

Month: Categories: International

Tags:

India, U.K. amend convention on DTAA

India and the U.K. inked a protocol amending the 1993 imagebilateral convention on avoidance of double taxation and prevention of fiscal evasion related to taxes on income and capital gains.

Main features of this protocol:

  • Streamlining the partnership and taxation of dividends provisions in both the countries.
  • Provide tax stability to the residents of the two countries.
  • Facilitate mutual economic cooperation besides stimulating flow of investment, technology and services b/w the two nations.
  • Provisions for effective exchange of information b/w the tax authorities of the both sides.
  • Exchange of banking information and supplying of information irrespective of domestic interest.
  • Sharing of information to other agencies with the permission of the supplying state.

Month: Categories: International

Tags: