Cabinet nod to double-tax avoidance pact with Slovenia

The Dollar Business Bureau The Union Cabinet has also approved the signing and ratification of an agreement with Maldives for the exchange of tax related information between the two countries  Union Cabinet on Wednesday approved signing of a protocol with Slovenia seeking amendments in the double taxation avoidance treaty (DTAT) between India and the European Union country. The move comes as part of the government’s efforts to prevent tax evasion and tax disputes related to multinational companies. “The amendment in the protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes,” Finance Ministry said in a statement. The Cabinet has also approved the signing and ratification of a similar agreement with Maldives for the exchange of tax related information between the two countries. “The agreement will stimulate effective exchange of information between the two countries which will help curb tax evasion and tax avoidance,” the ministry said in another statement. So far, India has signed double taxation pacts with more than 95 countries including the US, Britain, the UAE, Canada, Australia, Saudi Arabia, Singapore, Switzerland, New Zealand and Mauritius.  

December 30, 2015  | 05:15pm IST