Cabinet approves signing of amended tax treaty with Portugal

The Union Cabinet on Wednesday approved signing of the protocol amending the convention between India and Portugal for avoidance of double taxation.

"The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for signing of a Protocol amending the convention between India and Portugal for avoidance of double taxation.

"The Protocol will also ensure prevention of fiscal evasion with respect to taxes on income," an official statement said.

It further said that once the protocol enters into force, both India and Portugal would be able to exchange tax related information, which will help tax authorities of both countries to curb tax evasion.