India, Mauritius sign protocol to amend tax treaty

PTI

Updated At : 02:13 PM Apr 12, 2024 IST

Unlock Exclusive Insights with The Tribune Premium

Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits

Yearly Premium ₹999 ₹349/Year

Yearly Premium $49 $24.99/Year

New Delhi, April 11

India and Mauritius have signed a protocol to amend the double taxation avoidance agreement (DTAA), which included a principal purpose test (PPT) to decide whether a foreign investor is eligible to claim treaty benefits.

Tax experts said a new article has been added to the protocol “Article 27B Entitlement to Benefits”. The amended protocol was signed on March 7 and made public now. The introduction of the PPT aims to curtail tax avoidance by ensuring that treaty benefits are only granted for transactions with a bona fide purpose. Nangia Andersen India Chairman Rakesh Nangia said the amendment represents a move by India to align with global efforts against treaty abuse, particularly under the BEPS Action 6 framework.

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

Designed and developed by : SORTD

Unlock Exclusive Insights with The Tribune Premium

Suggested Articles