India and Kazakhstan agree to amend the Double Taxation Avoidance Convention (DTAC)
India and Kazakhstan
have signed the protocol to amend the double taxation Avoidance Convention between
two countries which was initially signed on 9th January 1996 for the
avoidance of double taxation and for the prevention of fiscal evasion with
respect to taxes on income.
About the Protocol:
The Protocol will
provide internationally accepted standards for effective exchange of tax
matters.
The information
received from Kazakhstan for tax related will be shared with other law
enforcement agencies with authorisation of the competent authority of
Kazakhstan and vice versa.
The protocol will provide a limitation of
benefits clause to prevent any misuse of Double taxation avoidance Convention
(DTAC). It allow application of domestic law and measures against tax evasion.
The protocol also
inserts specific provisions to facilitate relieving of economic double taxation
in transfer pricing cases.
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