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HomeEconomyIndia-Armenia DTAC protocol amended

India-Armenia DTAC protocol amended

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New Delhi: A to amend the existing Double Taxation Avoidance Convention (DTAC) was signed between the Government of India and its Armenian counterpart here today.

The amends the DTAC between the two countries, which has been in existence since 9 September 2004. It changes the article on exchange of information for tax purposes to bring it in line with the updated provisions in the OECD model. It will enable the two countries to exchange information related to financial and banking transactions under the DTAC, and thereby facilitate them in addressing tax evasion.

The is also expected to further strengthen the efforts of Government of India in curbing generation of black money.

The amending was signed by Jain, Chairman, Central Board of Direct Taxes(CBDT), on behalf of Government of India and by Armen Martirosyan, Ambassador of Armenia to India, on behalf of the Government of Armenia.

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