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Cabinet approves protocol amending the Agreement between India and Vietnam for the avoidance of double taxation

| | Oct 07, 2015, at 09:59 pm
New Delhi, Oct 7 (IBNS): The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Protocol amending the Agreement between India and Vietnam for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income.

"The Protocol provides for internationally accepted standards for effective exchange of information on tax matters including bank information and information without domestic tax interest," read an official statement.

It is further provided that the information received from Vietnam in respect of a resident of India can be shared with other law enforcement agencies with authorisation of the Competent Authority of Vietnam and vice versa.
 

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