English Release 26-January 2015
- Vice President's Secretariat
- Vice President Condoles the Passing Away of Shri R.K.Laxman
- Prime Minister's Office
- PM condoles the demise of Eminent Cartoonist RK Laxman
- PM's remarks at India-US CEO Forum
- Remarks by Prime Minister at the India-U.S. Business Summit
- PM gives best wishes to people of Australia on Australia Day
- PM greets the Nation on Republic Day
Ministry of Finance08-March, 2013 18:45 IST
Double Taxation Avoidance agreement (DTAA) with South Korea |
|India has signed 88 Double Taxation Avoidance Agreements (DTAAs) out of which 85 have entered into force, with various countries including Sri Lanka and South Korea. |
The DTAAs provide for allocation of taxation rights to source State and residence State in respect of business profits including that of a permanent establishment, operation of ships or aircraft in international traffic, dividends, interest, royalty, capital gains etc. Further, DTAAs have provisions for exchange of information for tax purposes.
The DTAAs facilitate mutual economic cooperation and provide tax certainty to the resident tax payers of both the countries. Further, the DTAAs aim to avoid the burden of double taxation on the income of residents of the two treaty countries and also simulate flow of investment, technology and services between them.
This was stated by the Minister of State for Finance, Shri S. S. Palanimanickam in a written reply to a question in the Lok Sabha today.
(Release ID :93330)