India, Oman agree to amend tax treaty to promote greater cooperation
The Hindu
India and Oman amend DTAA to align with international standards, simplify tax procedures, and promote cooperation in tax matters.
India and Oman have agreed to amend the DTAA to align it with international standards on cross-border taxation, simplifying procedures, and promoting greater cooperation in tax matters, an official statement said on Tuesday.
A protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA) was signed during the visit of Commerce and Industry Minister Piyush Goyal to Muscat.
The treaty was implemented in 1997.
"Both sides signed the protocol to amend the India-Oman DTAA, aligning it with international standards on cross-border taxation, simplifying tax procedures, and promoting greater cooperation in tax matters," the commerce and industry ministry said.
The two countries have also agreed to expedite the discussions for an early signing of the proposed free trade agreement, which is under negotiations.
Goyal was in Muscat for the India-Oman Joint Commission Meeting (JCM) with Oman's Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammed Al Yousef.
"The two ministers exchanged views on a bilateral India-Oman Comprehensive Economic Partnership Agreement (CEPA), which is under advanced stages of negotiations," it said.
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India and Oman amend DTAA to align with international standards, simplify tax procedures, and promote cooperation in tax matters.