Cabinet approves India-Senegal treaty to avoid double taxation
The Cabinet gave approval for the signing of an agreement between India and Senegal, for avoiding double taxation and prevention of tax evasion.
By PTI |
NEW DELHI: The Cabinet on Thursday gave approval for the signing of an agreement between India and Senegal, for avoiding double taxation and prevention of tax evasion.
"This agreement, when it comes to force, will stimulate the flow of investment, technology and services from India to Senegal and vice versa," Information and Broadcasting Minister Priyaranjan Dasmunsi told reporters.
The agreement will also provide tax stability to Indian and Senegal residents as well as mutual economic cooperation between both the countries, he added.
Notably, India is among the top trading partners of Senegal apart from France.
Among other major Indian companies, TATA Motors, Thapar Group, Ranbaxy and HMT have their presence in this African country.
"This agreement, when it comes to force, will stimulate the flow of investment, technology and services from India to Senegal and vice versa," Information and Broadcasting Minister Priyaranjan Dasmunsi told reporters.
The agreement will also provide tax stability to Indian and Senegal residents as well as mutual economic cooperation between both the countries, he added.
Notably, India is among the top trading partners of Senegal apart from France.
Among other major Indian companies, TATA Motors, Thapar Group, Ranbaxy and HMT have their presence in this African country.
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