India and Austria signed a Protocol on Monday, amending the existing convention between the two countries for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income.
The Protocol was signed by Sushil Chandra, Chairman, Central board of Direct Taxes (CBDT), on behalf of India and Georg Zehetner, Charge d' Affaires, Embassy of Austria, on behalf of Austria.
The Protocol will broaden the scope of the existing framework of exchange of tax-related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.
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