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India, Lithuania sign double tax avoidance pact
July, 27th 2011

India has signed a double taxation avoidance pact with Lithuania. This agreement provides for effective exchange of information between tax authorities of the two countries, including exchange of banking information.

The double tax avoidance agreement (DTAA) was signed by Mr Prakash Chandra, Chairman of Central Board of Direct Taxes (CBDT), on behalf of the Indian Government and Mr Petras Simeliunas, Ambassador of Lithuania to India, on behalf of the Lithuanian Government here on Tuesday.

Lithuania is the first Baltic country with which India has signed a double tax avoidance pact.

The DTAA provides that business profits will be taxable in the source State if the activities of an enterprise constitute a permanent establishment (PE) in the source State. The agreement provides for fixed place PE, building site, construction and installation PE, service PE, offshore exploration/exploitation PE and agency PE.

Dividends, interest and royalties and fees for technical services will be taxed both in the country of residence and in the country of source. The low level of withholding rates for dividend (5 per cent and 15 per cent), interest (10 per cent) and royalties and fees for technical services (10 per cent) will promote greater investments, flow of technology and technical services between the two countries.

The DTAA also has an article on assistance in collection of taxes. This article also includes provision for taking measures of conservancy. The agreement incorporates anti-abuse (limitation of benefits) provisions to ensure that the benefits of the agreement are availed of by the genuine residents of the two countries.

The agreement also incorporates article concerning Associated Enterprises. This would enhance recourse to mutual agreement procedure to relieve double taxation in cases involving transfer pricing adjustments.

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