INDIA and Sweden yesterday signed a protocol to amend Article 27 of the
DTAA in relation to exchange of information to bring it in line with the
international standards and to add an Article in the protocol to the DTAC to
include tax examination abroad.
The protocol was signed by Ms. Banashri
Bose Harrison, Ambassador of India to Sweden and Latvia and Mr. Anders Borg,
Ministry of Finance, Sweden. The Protocol will replace the Article concerning
Exchange of Information in the existing DTAC between India and Sweden and will
allow exchange of banking information as well as information without domestic
interest. It will, now, allow use of information for non-tax purpose if allowed
under the domestic laws of both the countries, after the approval of the
supplying state.
The Article added in the Protocol to the DTAC will
enable both the countries to assist in conducting tax examination abroad by
allowing officials of one country to enter the territory of other country for
this purpose.
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