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Protocol amending DTAA between India, China
February 12 , 2018
2480 days
942
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- The Union Cabinet has approved signing and ratification of protocol amending Double Taxation Avoidance Agreement (DTAA) between India and China.
- The DTAA aims for
- Avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income
- Update the provisions on exchange of information of the DTAA to the latest international standards.
- It also incorporates changes required to implement treaty related minimum standards under Action reports of Base Erosion & Profit shifting (BEPS) Project, in which India also had participated.
- In 2016, India signed a multilateral convention to implement measures to prevent shifting of profits by companies to low-tax nations as a way to avoid paying taxes.
- The convention is an outcome of the Organisation for Economic Cooperation and Development (OECD)/G20 Base Erosion and Profit Shifting (BEPS) project.
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