TNPSC Current Affairs January 6 2016
The
protocol also inserts specific provisions to facilitate relieving of economic
double taxation in transfer pricing cases.
India and Kazakhstan have signed the protocol to amend
the Double taxation Avoidance Convention (DTAC) between two countries which was
initially signed on 9th December 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.
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