Double-tax pact

The Cabinet has approved the ratification and entry into force of the third Protocol to the Convention between India and New Zealand for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (Convention).

The Protocol was signed on 26th October, 2016.

The Protocol will stimulate the flow of exchange of information between India and New Zealand for tax purposes which will help curb tax evasion and tax avoidance. It will also enable assistance in collection of tax revenue claims between both countries. fii-news.com