Business Daily from THE HINDU group of publications
Friday, Jun 13, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Jun 13, 2008 ePaper | Mobile/PDA Version | Audio |
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Government
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Policy Industry & Economy - Double Taxation Treaties Cabinet okays amendments to taxation pact with Syria Our Bureau New Delhi, June 12 The Union Cabinet on Thursday gave its nod to the proposed amendments to the India-Syria double taxation avoidance agreement (DTAA). The existing DTAA is in force from 1985. Indian tax authorities have been looking to revise a number of DTAAs that were entered into by India in the eighties. These agreements need to be revised as many do not factor in new concepts and developments such as e-commerce, transfer pricing and mutual agreement procedure (MAP), an alternative dispute resolution mechanism now provided under tax treaties. There has been a substantial expansion of global trade in the nineties, requiring a revision to the earlier DTAAs, officials said. So far, India has signed DTAAs with 72 countries. More Stories on : Policy | Double Taxation Treaties
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