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English Release 24-October 2014
Date Month Year
  • Prime Minister's Office
  • PM conveys greetings on United Nations Day
  • PM salutes our brave ITBP personnel on the Raising Day of ITBP
  • Min of Agriculture
  • Kharif Rice Area Coverage
  • Min of Commerce & Industry
  • DIPP Constitutes IPR Think Tank to Draft National Intellectual Property Rights Policy
  • Min of Defence
  • Brave Heart NCC Cadets Rescue Middle Aged Woman from River Yamuna
  • Ministry of Finance
  • Government approves Twenty (20) Proposals of Foreign Direct Investment amounting to Rs 988.3 Crore
  • Min of Health and Family Welfare
  • Dr Harsh Vardhan offers cooperation to Pakistan to end polio
  • Min of Home Affairs
  • Observance of the Rashtriya Ekta Diwas on 31st October
  • Min of Petroleum & Natural Gas
  • Modified DBTL Scheme
  • Global crude oil price of Indian Basket was US$ 83.61 per bbl on 23.10.2014
  • Min of Road Transport & Highways
  • Electronic Toll Collection System to be Inaugurated on October 31, 2014
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • India’s Performance at 2nd Asian Para Games 2014 on 22nd and 23rd October, 2014
  • Min of Urban Development
  • Shri M.Venkaiah Naidu adopts Hudhud cyclone ravaged village of Andhra Pradesh for rehabilitation

Previous Date

 
Ministry of Finance13-December, 2012 17:33 IST
Proposal to Operationalise DTAAs with 12 More Countries Under Process

India has entered into Double Taxation Avoidance agreements (DTAAs) with 84 countries. In addition, DTAAs have been signed with 3 countries, viz. Colombia, Uruguay & Ethiopia and will enter into force after completion of necessary formalities in these countries. Proposal to sign DTAAs with 12 more countries/jurisdictions is under process. These countries/jurisdictions are Albania, Bhutan, Chile, Croatia, Fiji, Hong Kong, Iran, Latvia, Senegal, Venezuela, Cuba and Macedonia.

The Government has also identified priority countries/jurisdictions for negotiation of Tax Information Exchange Agreements (TIEAs). At present, India has TIEAs with 9 jurisdictions viz. Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Isle of Man, Jersey, Guernsey, Liberia and Macau which are in force. In addition, three more TIEAs have been signed with Argentina, Bahrain and Monaco which will enter into force after completion of necessary formalities in these countries/jurisdictions. The proposal to sign TIEAs with another 34 countries/jurisdictions is under process. These countries/jurisdictions are Andorra, Anguilla, Antigua and Barbuda, Aruba, Barbados, Belize, Brunei Darussalam, Cook Islands, Curacao, Dominica, Dominican Republic, Faroe Islands, Greenland, Grenada, Honduras, Jamaica, Montserrat, Peru, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sint Maarten, Turks and Caicos, Vanuatu, Argentina, Bahrain, Gibraltar, Liechtenstein, Maldives, Marshall Islands, Panama, Saint Kitts & Nevis and Seychelles.

All these DTAAs and TIEAs contain an Article on Exchange of Information under which India tax authorities can seek information about a taxpayer.

Information is regularly exchanged with the treaty/agreement partners and is forwarded to the field authorities for taking appropriate action. The information exchanged is governed by the confidentiality clause of the respective DTAA/TIEA.

This was stated by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in the Rajya Sabha today.

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