INDIA and
Belgium today signed a Protocol amending the existing DTAA. The Protocol
was signed by Mr Sushil Chandra, Chairman CBDT on behalf of India and
Mr. Jan Luykx, Ambassador of Belgium to India, on behalf of Belgium.
The Protocol will broaden the scope of the existing framework of exchange
of tax related information which will help curb tax evasion and tax avoidance
between the two countries and will also enable mutual assistance in collection
of taxes.
Fighting the menace
of Black Money stashed in offshore accounts has been a key priority area
for the Government. To further this goal, international agreements / declarations/
conventions for the Avoidance of Double Taxation & Prevention
of Fiscal Evasion with respect to Taxes on Income and for Exchange of Information
and have been signed / amended by India with Switzerland, Mauritius, Cyprus,
Japan, Republic of Korea, Kazakhstan, Singapore and Austria during the financial
year 2016-17.
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