India said a tax residency certificate was necessary but no longer enough to claim benefits under double taxation avoidance agreements, according to the Finance Bill tabled in parliament on Thursday. The amendment is sparking fears that tax authorities would have wider discretion to go after foreign investors who have usually benefitted from investing from countries such as Mauritius that have double-tax avoidance treaties with India. ...
06:50 PM, Feb 28, 2013
New Delhi: India and Indonesia on Friday inked a treaty on avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and discussed strategic bilateral and regional issues, including South China Sea in the backdrop of increasing Chinese influence in the region. External Affairs Minister SM Krishna and his Indonesian counterpart Marty M Natalegawa co-chaired the fourth meeting of the India-Indonesia Joint Commission and...
05:34 PM, Jul 27, 2012
New Delhi: Mauritius on Friday expressed its readiness to expeditiously revise the tax treaty with India to check tax evasion but asserted that domestic laws should not have precedence over the provisions of the bilateral pact. "We want earlier resolution because we do not want uncertainty, as instability and uncertainty is not good for both countries," Mauritius Minister of Foreign Affairs, Regional Integration and International Trade, Arvin Boolell, told a...
08:46 PM, Jul 06, 2012
New Delhi: The government is likely to discuss and approve on Thursday the revised tax information sharing treaty between India and Sri Lanka, in its aggressive bid to hunt black money stashed abroad. "The India-Sri Lanka Double Taxation Avoidance Agreement (DTAA) is listed for tommorow (Thursday). The approval is for revising the terms of existing DTAA," a source said. In 2005, India had signed tax information exchange treaties with other...
10:24 PM, May 30, 2012
Geneva: The Swiss Bankers Association lashed out on Monday at the possibility of another tax treaty with the United States aimed at handing over details of Americans suspected of using Swiss banks to cheat on their taxes. The trade group's chairman, Patrick Odier, urged the Swiss people and the government to "put up a united front" and work out a solution that applies to all countries. He said that the...
06:34 PM, Sep 05, 2011
New Delhi: The revised tax treaty between India and Switzerland, to enable access to Swiss accounts of tax evaders, seems to have hit bureaucratic hurdle as the two governments are yet to notify each other on the required legal and procedural approvals. As per an agreement between the two countries, the information exchange was expected to take effect on January 1. However, Switzerland's Federal Tax Administration department said that the...
03:38 PM, Jan 09, 2011
