Finmin calls for fresh look at DTA
The finance ministry has sought a fresh look at the double taxation avoidance treaties that New Delhi has inked with many countries to make the pacts favourable for Indian investments abroad as much as they are for the incoming capital.
By TNN |
NEW DELHI: The finance ministry has sought a fresh look at the double taxation avoidance treaties that New Delhi has inked with many countries to make the pacts favourable for Indian investments abroad as much as they are for the incoming capital.
“We are working very hard on a model tax treaty as we have realised that today India not only imports capital but also invests abroad. So, the very nature of DTA (double taxation avoidance treaty) has to change,” economic adviser to finance minister Parthasarthy Shome said on Thursday.
Addressing a conference on taxation, he said, “We are now looking at what is to our benefit and advantage.” On the need for review of DTAs, Mr Shome said the government wanted to protect not only revenues at a time when foreign capital came to India and the returns go abroad, but also when domestic companies invest abroad.
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