India, Sweden amend tax treaty

India and Sweden had signed DTAC for avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital in 1997.

FP Archives|Feb 08, 2013, 20:02:50 IST

New Delhi: India and Sweden have modified the Double Taxation Avoidance Convention (DTAC) to facilitate sharing of banking details and tax-related information. "India and Sweden have now signed the Amending Protocol at The Stockholm, Sweden, yesterday. The Protocol will replace the Article concerning Exchange of Information in the existing DTAC between India and Sweden and will allow exchange of banking information," an official statement said today.[caption id="attachment_619147" align="alignleft" width="380"]

No tax evasion. Reuters[/caption] The protocol allows use of information for non-tax purpose if allowed under the domestic laws of both the countries, after the approval of the supplying state, the statement added. India and Sweden had signed DTAC for avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital on 24 June 1997. India singed Double Tax Avoidance Agreements (DTAA) with many countries and is in the process of modifying the agreements in line with the international norms. India amended DTAAs with Switzerland, Australia and Singapore. PTI

BCCI earned more than Rs 2,400 crore in IPL 2022, reveal documents

Annual reports for the five years to 2021-22, published on the BCCI website Thursday, showed the board had amassed a surplus of Rs 320 billion ($2.7 billion) as of April 2022. That year’s edition of the IPL saw a net income of $292 million.

Eight Russian judokas barred from world championships after Ukraine boycott

The Russian judokas were barred following Ukraine's boycott over the presence of Russian athletes it argued were active soldiers.

Old video of Donald Trump listening to Taylor Swift’s ‘Blank Space’ takes over internet; watch

Back in 2012, Donald Trump, taking to his Twitter termed Taylor Swift “terrific” after the American singer was named the co-host for the Grammy nominations special.

SA20: Ex-New Zealand all-rounder Jacob Oram appointed MI Cape Town bowling coach

Oram, who represented the Black Caps in 33 Tests, 160 ODIs and 36 T20Is, has also played in the Indian Premier League where he represented the Mumbai Indians in his final season.

FIFA World Cup: Morgan Freeman, Jung Kook headline day one before Ecuador defeats hosts Qatar

A glittering opening ceremony was highlighted by the presence of Hollywood actor Morgan Freeman and Korean singer Jung Kook.

Up Next