New Delhi: The Central Board of Direct Taxes (CBDT) announced the rules amending the Double Taxation Avoidance Agreement (DTAA) between India and Kuwait.
The protocol renews the terms in the DTAA for the exchange of information as per international standards and also enables sharing of information received from Kuwait for tax purposes with other law enforcement agencies, subject to an authorisation of the competent authority of Kuwait and vice versa.
As per the Central Board of Direct Taxes, the protocol to revise the present contract between India and Kuwait was signed in June 2006 for the avoidance of double taxation. After this, another protocol was signed in January 2017 for the prevention of fiscal evasion with respect to taxes on income.
This protocol, the CBDT said, has come into force on March 26, and duly notified in the official gazette.