Cabinet okays amendments to taxation pact with Syria
June, 13th 2008
The Union Cabinet on Thursday gave its nod to the proposed amendments to the India-Syria double taxation avoidance agreement (DTAA). The existing DTAA is in force from 1985.
Indian tax authorities have been looking to revise a number of DTAAs that were entered into by India in the eighties. These agreements need to be revised as many do not factor in new concepts and developments such as e-commerce, transfer pricing and mutual agreement procedure (MAP), an alternative dispute resolution mechanism now provided under tax treaties.
There has been a substantial expansion of global trade in the nineties, requiring a revision to the earlier DTAAs, officials said. So far, India has signed DTAAs with 72 countries.