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Negotiations on with other countries to sign new tax treaties: FM

The three other countries are Azerbaijan, Chile and Venezuela

Press Trust of India  |  New Delhi 

Arun Jaitley

today said negotiations are going on for signing new Double Taxation Avoidance Agreements (DTAAs) with Hong Kong, Iran, and three other nations.

The three other countries are Azerbaijan, Chile and Venezuela, Finance Minister informed in in a written reply.

Besides, negotiations are also going on for entering into new Tax Information Exchange Agreements (TIEAs) with a host of jurisdictions, including Costa Rica, Panama, Maldives, Saint Kitts and Nevis, Seychelles, Barbados, Cook Islands, Jamaica, Peru and Saint Lucia.

Under these tax agreements, information on money deposited by Indians in specific cases can be received.

Jaitley further said the government has not identified any country as a tax haven.

"However, many of the countries with which we have exchange of information relationship... Are low or no tax jurisdictions," he added.

The Finance Minister also said government is proactively engaged with foreign governments for exchange of information under the provisions of tax treaties.

At end of June, 2014, had exchange of information instruments, like DTAA and TIEA, with 130 countries and jurisdictions.

First Published: Tue, July 15 2014. 17:30 IST
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