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India, China amend Double Taxation Avoidance Agreement to prevent evasion

In a statement, the Finance Ministry said that the protocol updated the existing provisions for information exchange to the latest international standards

IANS  |  New Delhi 

India, China amend Double Taxation Avoidance Agreement to prevent evasion

and on Monday amended their bilateral Avoidance Agreement (DTAA) to prevent evasion through exchange of information.

In a statement, the said that the protocol updated the existing provisions for information exchange to the latest international standards.

It also incorporated changes required to implement treaty-related minimum standards under the Base Erosion and Profit Shifting (BEPS) action reports.

"Besides minimum standards, the protocol also brought in changes as per BEPS action reports as agreed upon by the two sides," the statement said.

BEPS are avoidance strategies that exploit gaps and mismatches in rules to artificially shift profits to low or no-tax locations.

 

First Published: Mon, November 26 2018. 19:00 IST
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