Double taxation avoidance agreement to boost trade between India and Iran
India and Iran on Saturday signed an agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with regard to taxes on income.
The agreement is on similar lines as entered into by India with other countries, the Central Board of Direct Taxes (CBDT) said in a statement.
India and Iran signed in New Delhi today an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income. https://t.co/XPdj7qHrov pic.twitter.com/rZtyiwLeJC
— PIB India (@PIB_India) February 17, 2018
“The agreement will stimulate flow of investment, technology and personnel from India to Iran and vice versa, and will prevent double taxation,” the statement said.
The pact provides for exchange of information between the two nations as per latest international standards.
“It will improve transparency in tax matters and will help curb tax evasion and tax avoidance,” the statement said. “The agreement also meets treaty related minimum standards under G-20 OECD Base Erosion and Profit Shifting (BEPS) Project, in which India participated on an equal footing.”