THE Government of the Republic of India and the Government of the Kingdom of
Spain signed here today the Protocol for amending the Convention
and Protocol between the Government of the Republic of India and the Government
of the Kingdom of Spain for avoidance of double taxation and the prevention
of fiscal evasion with respect to taxes on income and on capital. The
Protocol has been signed by the Union Finance Minister of India, Mr P. Chidambaram
on behalf of India, while Minister for Foreign Affairs and Cooperation of
Spain, Jose Manuel Garcia-Margallo y Marfil signed it on behalf of Spain.
It is expected to stimulate the effective exchange of information and enable Assistance in Collection of taxes between India and Spain. It will reduce obstacles in mutual cooperation between the two countries and also prevent the abuse of the benefits of the Convention.
The Protocol will enter into force on completion of internal procedures in both the countries.
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