Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: cpt :: form 3cd :: empanelment
 
 
« General »
 Confusion over GST persists: Wholesale grain market affected, sales fall by 40 percent in Pune
 Slow tax growth reflects companies' GST troubles
 What is PAN card? Why is it important?
 Govt to cut down executive discretion on tax laws
 Businesses can start filing July returns on GSTN from August 5
 Are you earning abroad? Know the tax rules
 Attention last minute tax filers! Know about key changes made by govt this year
 Accounting relief for IndAS companies
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners

For better exchange of info on tax evaders
January, 16th 2010

India and Finland on Friday revised their tax treaty to help better exchange of information on tax evaders. Both countries also agreed to bring down the withholding tax rates on dividends from the existing 15% to 10%.

As per the revised agreement, the contracting parties "shall not deny furnishing of the requested information solely on the ground that it does not have any domestic interest in that information or such information is held back by a bank". Another clause has been added to the revised agreement which restricts the powers of a resident to prevent misuse of the Double Taxation Avoidance Agreement (DTAA).

"The lowering of withholding tax will promote greater investments, flow of technology and technical services between the two countries," according to a press note issued by the Central Board of Direct Taxes (CBDT).

This will also ensure assistance in collection of taxes when such taxes are due under the domestic laws and regulation, it added.

The new pact was signed by CBDT chairman S S N Moorthy and Finland's ambassador Terhi Hakala here.

Talks between India and Switzerland are in progress on including a similar amendment in their existing DTAA. The pressure has been mounted on the Swiss authorities after the G-20 meeting in London where the finance ministers of developing and developed countries laid emphasis on a concerted move to crack down on tax havens.

The FMs of the G-20 nations adopted a resolution at the end of the meeting calling for "an effective programme of peer review, capacity building, and counter measures to tackle non-cooperative jurisdiction that failed to make regulatory standards, anti-money laundering and combating financing of terrorism".

The revenue department in the finance ministry has been from time to time negotiating fresh tax treaties with countries with which it has no such arrangement and revising the existing treaties where liberal clauses are replaced with more stringent reporting mechanism to avoid any round tripping, a method by which businessmen route money through some of the tax havens avoiding taxes.

In the past few years, India has had several rounds of talks with Mauritius to renegotiate the DTAA seeking to curb companies indulging in round tripping of investments. However, no agreement has been reached yet.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions