India, Thailand ink pact on double taxation avoidance

Bangkok, June 29

India and Thailand today signed a number of important agreements, including the double taxation avoidance treaty, and exchanged instruments of ratification on the extradition treaty inked in 2013, which provides for the legal framework for seeking extradition of fugitive offenders.

The tax treaty provides for the framework to avoid double taxation and prevention of fiscal evasion with respect to taxes so as to promote bilateral economic cooperation.

On the last day of her three-day visit, External Affairs Minister Sushma Swaraj co-chaired the 7th meeting of the India-Thailand Joint Commission for Bilateral Cooperation.

The extradition treaty signed between the two countries in 2013 provides for the legal framework for seeking extradition of fugitive offenders, including those involved in terrorism, transnational crimes, economic offences etc.

The treaty provides for the extradition of any person, who is wanted for trial or for the imposition or enforcement of any sentence by one Contracting state and is found in the territory of the other Contracting state.

The exchange of instruments will help both the countries in expedited extradition of fugitives. This treaty will further strengthen the relationship between the security agencies of the two countries, officials said.

The two sides also signed a Memorandum of Understanding (MoU) on the Establishment of Nalanda University. By signing this agreement, Thailand joins other East Asian Summit countries in the establishment of Nalanda University in Bihar.

Another significant development during Swaraj’s two-day visit here is the signing of an MoU on the establishment of an Ayurveda Chair in one of the Thai Universities.

The MoU is between the Ministry of Ayush and Rangsit University of Thailand under which the Central Council for Research in Ayurvedic Sciences will set up a Chair at the Thai University to undertake academic and research activities in Ayurveda.

“Laying a sound foundation for future ties. India & Thailand sign a number of important agreements,” MEA spokesperson Vikas Swaroop tweeted.

In his other tweets, he said, “The exchange of Instruments of Ratification of Extradition Treaty strengthens framework of our legal cooperation. — PTI