India, Cyprus sign revised DTAA to ease tax collection
The Dollar Business Bureau India and Cyprus have signed a revised agreement for Avoidance of Double Taxation and the Prevention of Fiscal evasion (DTAA) with regards to taxes on income, together with its Protocol. The agreement was signed on Friday in Nicosia and will replace the prevailing DTAA which was signed between the two countries on June 13, 1994. On behalf of India, Ravi Bangar, High Commissioner of India to Cyprus and on behalf of Cyprus, Harris Georgiades, the Minister of Finance, have signed the protocol. “New DTAA provides for source based taxation of capital gains arising from alienation of shares, instead of residence based taxation provided under the existing DTAA. However, a grandfathering clause has been provided for investments made prior to 1st April, 2017, in respect ...
India to move at Lanka's desired pace on ETCA
The Dollar Business Bureau India said on Thursday that it is ready to move at the pace at which Sri Lanka is capable in the proposed ETCA (Economic and Technology Cooperation Framework Agreement), which would highly benefit the island nation in sectors such as technology, IT, vocational training and tourism. While addressing the 8th annual general meeting of Indo-Lanka Chamber of Commerce in Colombo, YK Sinha, High Commissioner of India said that the first round of talks would start soon.“India was prepared to move at a pace which Sri Lanka is comfortable with and address Sri Lankan concerns as well as take measures to facilitate Sri Lankan exports to India,” Sinha said. Sinha said, “As proposed by Sri Lankan Prime Minister Ranil Wickremesinghe, ETCA would put emphasis ...
Telangana IT minister woos investors from Singapore
The Dollar Business Bureau With an aim to attract huge investments into the state of Telangana, the Minister for Information Technology, Industries, Municipal Administration and Urban Development K T Rama Rao visited Singapore and met a number of industry representatives on Wednesday. The minister held talks with A*STAR(Agency for Science, Technology and Research) agency representatives. This agency works as a bridge between the academia and industry in developing innovative methods. A*STAR expressed enthusiasm to work with the Telangana government’s Research and innovation circle of Hyderabad (RICH)and would be signing a bilateral agreement on the same. The agreement would be for cooperation in the fields of research, commerce, innovation and incubation. A student exchange programme will be organised as part of this agreement. The ...
India-Lanka discuss FTAs, investments for enhanced trade
Sai Nikesh | The Dollar Business India and Sri Lanka on Thursday, discussed various economic issues towards addressing trade imbalance and enhancement of economic cooperation between the two countries. In a Commerce Secretary level interaction that was held as a third round of discussion, followed by the one in June 2013 in Colombo and the other in January 2014, both the sides discussed key issues like India-Sri Lanka Free Trade Agreement (FTA), non-tariff barriers, upgrading of economic engagement including investments and services, among others related to bilateral trade. Both the sides also agreed upon the expansion of bilateral trade by utilizing the optimal opportunities and resources available with the two economies. The Indian side reiterated its commitment saying the ...
