Government clears tax information exchange pacts with Maldives, Slovenia

NEW DELHI: The Cabinet today approved the signing and ratification of an agreement between India and Maldives for exchange of information aimed at curbing tax evasion and avoidance.

The approval was given by the Union Cabinet chaired by Prime Minister Narendra Modi here today.

"The Agreement will stimulate effective exchange of information between the two countries which will help curb tax evasion and tax avoidance," said an official statement.

The Cabinet also approved signing of a Protocol amending the Convention between India and Slovenia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income.

"The amendment in the Protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes," another release said.