Double taxation Current Affairs, GK & News

India and China sign protocol to Double Taxation Avoidance Agreement to prevent tax evasion

India and China have signed protocol to amend Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income by allowing exchange of information. Under Section 90 of Income-tax Act, 1961, India can enter into agreement with foreign country or specified territory for ..

Month: Current Affairs - November, 2018

Topics: Base Erosion and Profit Shifting • BEPS • Corporate tax avoidance • Double taxation • Double Taxation Avoidance • Dtaa • Economy • Foreign direct investment • India China • International taxation • Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting • National • Tax • Tax avoidance • Tax Evasion • Taxation in the United States • World economy

India signs agreements with Cyprus on combating money laundering and environment

On September 3, India and Cyprus signed two agreements on combating money laundering and cooperation in the field of environment in the presence of President Ram Nath Kovind and his Cypriot counterpart Nicos Anastasiades in Nicosia. Both the countries also agreed for the revision in the Double Taxation Avoidance Agreement (DTAA) made in 2016 to ..

Topics: Continents • Countries • Cyprus • Double taxation • Geography of Asia • Nicos Anastasiades

India, UK sign three advance pricing pacts

India’s Central Board of Direct Taxes (CBDT) and the UK have signed three Bilateral Advance Pricing Agreements (B- APAs) taking the total number of APAs concluded between India and the UK to 5. So, far India has signed a total of 111 APAs both-bilateral and unilateral.   The APAs between India and UK have been ..

Topics: Advance pricing agreement • Androgynous Peripheral Attach System • Apas • Double taxation • Economies • International taxation • Pricing • Tax • Tax avoidance • Transfer pricing

India and Cyprus revise the double taxation avoidance agreement (DTAA)

A revised Double Taxation Avoidance and the Prevention of Fiscal Evasion (DTAA) agreement has been signed between India and Cyprus in Nicosia. This revised agreement will replace the existing DTAA that was signed in 1994. Cyprus is a major source of foreign funds flows in India. From April 2000 till March 2016, India received foreign direct ..

Topics: Double taxation • Dtaa • Economy • Foreign direct investment • International taxation • Mauritius route • Tax • World economy

India and US resolve 100 tax dispute cases under Mutual Agreement Procedure (MAP)

India and the US have resolved over 100 tax dispute cases involving Rs 5,000 crore under the Mutual Agreement Procedure (MAP). Key facts A meeting of the Bilateral Competent Authority Mutual Agreement Procedure (MAP) or Advance Pricing Agreement (APA) was held last month in the US to resolve the long pending disputes. During the meeting, ..

Topics: Advance pricing agreement • Double taxation • Economy • International taxation • Tax • Tax treaty • Transfer pricing • World economy