India, Fiji sign DTAA
Posted on Jan 31 2014 | IBNS
New Delhi, Jan 30 : The Indian government on Thursday signed a Double Taxation Avoidance Agreement (DTAA) with Fiji government for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income.
The agreement was signed here by Union Finance Minister P. Chidambaram, on behalf of the Indian government and Aiyaz Sayed-Khaiyum, Attorney General and Minister of Justice, Anti-Corruption, Public Enterprises, Communications, Civil Aviation, Tourism, Industry and Trade, on behalf of the Fiji government.
Speaking on the occasion, Chidambaram said that the need for the DTAA between the two countries was felt and negotiations were completed in 2011.
He said that the Agreement will provide tax stability to the residents of India and Fiji and facilitate mutual economic cooperation as well as stimulate the flow of investment, technology and services between India and Fiji.
The Finance Minister said ,'The Agreement incorporates provisions for an effective exchange of information and assistance in collection of taxes between tax authorities of the two countries including exchange of banking information.'