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Cabinet approves pact with Hong Kong on tax issues

IANS  |  New Delhi 

The Union Cabinet chaired by Prime Minister Modi on Friday gave its approval to a proposal to strike an agreement with the Special Administrative Region (HKSAR) of for transparency in matters.

According to an official statement, the Cabinet gave its nod to the proposal to enter into an agreement with China's HKSAR for avoidance of double taxation and prevention of evasion of taxes on income.

The statement said the agreement would stimulate flow of investment, technology and personnel from India to HKSAR and vice versa, prevent double taxation and facilitate exchange of information between the two contracting parties.

"It will improve transparency in matters and will help curb evasion and tax avoidance," the statement added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 20:38 IST