India, Mauritius sign protocol to amend tax treaty

India, Mauritius sign protocol to amend tax treaty

Daily Current Affairs / India, Mauritius sign protocol to amend tax treaty

Change Language English Hindi

Category : International Published on: April 17 2024

Share on facebook

India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to prevent misuse of the treaty for tax evasion or avoidance.
The amended agreement includes what is called the principal purpose test (PPT), which essentially stipulates that tax benefits under the treaty will not apply if it is established that obtaining a duty benefit is a reason for any transaction. Was the main objective or system.
The new protocol on DTAA was signed on March 7 this year. The latest amendment includes a Principal Purpose Test (PPT) to decide whether a foreign investor is genuinely eligible for treaty benefits, or whether the primary reason for routing the investment through Mauritius was tax benefits.

Recent Post's

Indian-American musician and entrepreneur Chandrika Tandon has won a Grammy Award for her album "Shanti - A Journey of Peace".
Read More....
Shri H Shankar has taken charge as the Managing Director of Chennai Petroleum Corporation Ltd.
Read More....
Prime Minister launches Dhan-Dhaanya Krishi Yojana to enhance agricultural productivity in 100 low crop productivity districts.
Read More....
Canada imposes a 25% tariff on U.S. imports in retaliation to Trump's tariffs.
Read More....
Benjamin Netanyahu appoints Major General Eyal Zamir as the new head of the Israeli Defense Forces.
Read More....
India and Oman agree to amend the Double Taxation Avoidance Agreement to enhance bilateral cooperation.
Read More....
New Zealand's Mount Taranaki has been granted legal personhood, recognizing it as a living entity with rights and responsibilities.
Read More....
The Government of India has appointed Abhinav Gupta as the Additional Director General of the Directorate General of Foreign Trade (DGFT).
Read More....
Former Chief Election Commissioner Navin Chawla Dies At 79.
Read More....
All India Radio and the Ministry of Culture launched the classical music series 'Har Kanth Mein Bharat' to celebrate India's rich musical heritage.
Read More....