A
Protocol to amend the existing Double Taxation Avoidance Convention was signed
by the Government of India and the Government of Armenia on January 27, 2016 in
New Delhi.
The
Protocol amends the Double Taxation Avoidance Convention between India and
Armenia that has been in existence since 9th September, 2004. The Protocol
amends the Article on Exchange of Information for tax purposes to bring it in
line with the updated provisions in the OECD Model. The Protocol will enable the
two countries to exchange information related to financial and banking
transactions under the Double Taxation Avoidance Convention, and thereby
facilitate them in addressing tax evasion. It is also expected to further
strengthen the efforts of Government of India in curbing generation of black
money.
The
Amending Protocol was signed by Mr Arun Kumar Jain, Chairman, Central Board of
Direct Taxes, on behalf of Government of India and by H.E. Mr Armen Martirosyan,
the Ambassador of Armenia to India, on behalf of the Government of Armenia.
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