Cabinet
approves signing & ratification of protocol amending
the agreement between India & China for avoidance of double taxation &
prevention of fiscal evasion
The Union Cabinet, chaired by the
Prime Minister, Mr Narendra Modi, has given its approval for signing and
ratification of protocol amending the Agreement between India and China for the
Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect
to taxes on income.
Besides other changes, the protocol
updates the existing provisions for exchange of information to the latest
international standards. Further, the protocol will incorporate changes required
to implement treaty-related minimum standards under the action reports of Base
Erosion and Profit Shifting (BEPS) project, in which India had participated on
an equal footing. Besides minimum standards, the protocol will also bring in
changes as per BEPS action reports as agreed upon by the two sides, said a
release.
Source : Exim
News Service - New Delhi, Feb. 11
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