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India and Malta signed a new double taxation avoidance pact (DTAA) at Valetta, Malta, on April 8.
While Preneet Kaur, Minister of State for External Affairs, signed it from the Indian side, George Vella, Foreign Minister of Malta, signed it on behalf of Malta.
Once the DTAA enters into force, it will stimulate the flow of capital, technology and personnel between the two countries, further strengthening their economic relationship.
It also provides tax stability and reduces any obstacles in providing mutual cooperation between India and Malta, an official release said.
India and Malta have had a DTAA in force since February 1995. Both the countries have renegotiated that agreement to bring it in line with international standards, change in domestic laws and the changed economic scenario.
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