Business Daily from THE HINDU group of publications
Friday, Nov 21, 2008
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Business Daily from THE HINDU group of publications Friday, Nov 21, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Government
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Foreign Relations Industry & Economy - Double Taxation Treaties India, Tajikistan sign taxation pact Our Bureau New Delhi, Nov. 20 India and Tajikistan have signed a double taxation avoidance agreement (DTAA) here on Thursday. The agreement was signed by Mr Narendra Bahadur Singh, Chairman of the Central Board of Direct Taxes (CBDT) and Mr Norimov Jamshed Nurumahmadovich, Deputy Minister of Finance, Tajikistan. According to the agreement, capital gains from alienation of shares would be taxed at the source state. However, capital gains arising from alienation of shares of a company deriving its value principally from immovable property would be taxed in the State where the company is resident and not where the immovable property is situated. Moreover, the withholding rates for taxation of dividends in the source State have been restricted to a maximum of 5 per cent of the gross amount of dividends if the beneficial owner of the dividends is a company that holds directly at least 25 per cent of the share capital of the company paying the dividends and 10 per cent of the dividends in all other cases. More Stories on : Foreign Relations | Double Taxation Treaties
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