India, Armenia ink protocol amending double taxation avoidance docJanuary 27, 2016 - 15:23 AMT PanARMENIAN.Net - India and Armenia on Wednesday, January 27 signed an amended double taxation avoidance treaty under which both the countries will share information on banking and financial transactions, a move which is expected to curb instances of tax evasion, Business Standard reports. A Protocol to amend the existing Double Taxation Avoidance Convention (DTAC) was signed by both the countries on Wednesday, a finance ministry statement said. "The Protocol will enable the two countries to exchange information related to financial and banking transactions under DTAC and facilitate them in addressing tax evasion," the statement added. "It is also expected to further strengthen the efforts of the government in curbing generation of black money," it said. DTAC between India and Armenia has been in existence since September 9, 2004. The Amending Protocol was signed by Central Board of Direct Taxes (CBDT) Chairman A K Jain and Ambassador of Armenia to India Armen Martirosyan. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |