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Cabinet clears tax pact between India-Iran

Press Trust of India  |  New Delhi 

The today cleared a avoidance agreement between and which will promote investment flow and curb evasion.

The agreement for the Avoidance of and the Prevention of Fiscal Evasion with respect to taxes on income between and was approved by the Cabinet, headed by Narendra Modi, an official statement said.

The agreement will stimulate flow of investment, technology and personnel from to and vice versa, and will prevent double taxation, it added.

"The agreement will provide for exchange of information between the two contracting parties as per latest international standards. It will thus improve transparency in matters and will help curb evasion and tax avoidance," the statement said.

The proposed agreement also meets treaty related minimum standards under Base Erosion and Profit Shifting (BEPS) Project, it said.

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

First Published: Wed, March 14 2018. 21:50 IST