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New Delhi, April 5

The Union Cabinet today gave its approval for signing of the agreement for Avoidance of Double Taxation and Prevention of Tax Evasion in respect to taxes on income between India and Kuwait. An official statement points out that the agreement will stimulate the flow of investment, technology and services between both the countries. The Cabinet also gave its approval for withdrawal of the Arbitration and Conciliation (Amendment) Bill, 2003, which is pending in the Rajya Sabha. The decision will facilitate the introduction of a new Bill on arbitration after getting the recommendations of the Department related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice.

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