You are here: Home » PTI Stories » National » News
Business Standard

Cabinet gives nod to signing of DTAA with Hong Kong

Press Trust of India  |  New Delhi 

The Cabinet today gave its green light to entering into an agreement between and the Hong Kong Special Administrative Region (HKSAR) of for avoidance of double taxation and prevention of evasion.

The Cabinet, chaired by Prime Minister Modi, also approved the protocol amending the agreement between and Kyrgyzstan for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on

The agreement with will stimulate flow of investment, technology and personnel, prevent double taxation and provide for exchange of information between the two contracting parties, an official release said.

It will also improve transparency on matters and help curb evasion and avoidance.

About Kyrgyzstan, an another release said new clauses are being inserted into the existing DTAA on exchange of information.

"The Protocol further empowers to use information received under the DTAA to be used for other enforcement purposes on the supplying State authorising such use," it said.

Meanwhile, the Cabinet also gave its approval for signing a Joint Interpretative Declaration (JID) between India and Colombia on the existing Agreement for the Promotion and Protection of Investments between the two countries signed in November 2009.

The JID will impart clarity to the interpretation of the existing agreement, said another release.

Joint Interpretative Declarations and Statements in general play an important supplementary role in strengthening the investment treaty regime, it 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. 19:28 IST