Comments
India and Armenia on Wednesday signed a protocol to amend the existing Double Taxation Avoidance Convention between the two countries.
“The Protocol amends the Article on Exchange of Information for tax purposes to bring it in line with the updated provisions in the OECD Model,” said a Finance Ministry release.
The amendments will help the two countries to exchange information related to financial and banking transactions under the pact and help in preventing tax evasion.
“It is also expected to further strengthen the efforts of Government of India in curbing generation of black money,” said the Finance Ministry.
The original Double Taxation Avoidance Convention between India and Armenia has been in existence since September 2004.
The Amending Protocol was signed by Central Board of Direct Taxes (CBDT) Chairman AK Jain and Ambassador of Armenia to India Armen Martirosyan, said the Ministry.
Commenting on the Armenia protocol, Amit Jindal, Partner, Felix Advisory, said this move was in line with government’s larger intent of introducing similar clauses (banking information exchange) with all countries to curb money laundering.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.