Page-4 of International taxation Current Affairs, GK & News

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, ..

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India, Monaco ink TIEA

India and Monaco inked Tax Information Exchange Agreement (TIEA). The move will facilitate the both the countries to check tax evasion and money laundering. It is 9th TIEA inked by India. Core features of the agreement: · It follows global standard of transparency and exchange of information. · Information must be foreseeable and relevant to ..

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India detected undisclosed income equivalent to Rs 565 cr in France

Undisclosed income of Indians amounting Rs 565 crore has been detected in France. This revealing information was shared by France which it shared under the exchange of information clause of the Double Taxation Avoidance Agreement (DTAA) which India had signed with the European country.

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India, Indonesia ink DTAA

In order to prevent double taxation and fiscal evasion, India and Indonesia signed double taxation avoidance agreement (DTAA). The relationship b/w both countries is excellent and has strong historical and cultural ties. Both countries hope to achieve the trade target of 25 billion US Dollars by 2015. India and Indonesia are partners in the Non ..

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Advance Pricing Agreement Scheme gets clearance of FM

Finance ministry approved the Advance Pricing Agreement (APA) scheme, related to transfer pricing regulations. The APA scheme, proposed in Budget 2012-13, is being considered as one of the major industry-friendly initiatives. The finance ministry’s green signal to the provisions devised by the Central Board of Direct Taxes (CBDT) would assist implementation of the APA scheme ..

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