Regulatory Update: Amendment in Agreement Between India and China for Avoidance of Double Taxation and Prevention of Fiscal Evasion

The Union Cabinet has accorded its consent for the protocol amending the Agreement between India and China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income. The key aim is to update the provisions on exchange of information of the DTAA to the latest international standards. Further the Protocol will incorporate changes required in relation to implement treaty related minimum standards under the action reports of Base Erosion & Profit shifting (BEPS), in which India had participated on an equal footing. Besides minimum standards, the protocol will also bring in changes as per BEPS action reports as agreed upon by both the countries.

Source: http://pib.nic.in/newsite/PrintRelease.aspx?relid=176361

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