As businesses become increasingly global, taxation can become a complicated issue. For companies operating in multiple countries, double taxation can become a serious financial burden. To alleviate this issue, India has entered into double taxation agreements (DTAs) with several other countries. Here are some of the countries with DTAs in place with India:
1. United States: The DTA between India and the United States was signed in 1989 and has been amended several times since then. This agreement covers both income tax and estate and gift tax.
2. United Kingdom: The DTA between India and the United Kingdom was signed in 1993 and amended in 2006. This agreement covers both income tax and corporation tax.
3. Japan: The DTA between India and Japan was signed in 1989 and has been amended several times since then. This agreement covers both income tax and corporation tax.
4. Germany: The DTA between India and Germany was signed in 1995 and amended in 2011. This agreement covers both income tax and corporation tax.
5. France: The DTA between India and France was signed in 1992 and has been amended several times since then. This agreement covers both income tax and corporation tax.
6. Australia: The DTA between India and Australia was signed in 1991 and amended in 2011. This agreement covers both income tax and corporation tax.
7. Canada: The DTA between India and Canada was signed in 1985 and has been amended several times since then. This agreement covers both income tax and corporation tax.
8. Singapore: The DTA between India and Singapore was signed in 1994 and amended in 2005. This agreement covers both income tax and corporation tax.
9. UAE: The DTA between India and UAE was signed in 1993 and has been amended several times since then. This agreement covers both income tax and corporation tax.
These DTAs ensure that individuals and businesses are not taxed twice on the same income, and provide a framework for cooperation between the two countries` tax authorities. It is important to note that the terms of each DTA may differ, and businesses should consult with tax experts before operating in multiple countries.
In conclusion, India has entered into DTAs with several countries around the world, including the United States, United Kingdom, Japan, Germany, France, Australia, Canada, Singapore, and UAE. These agreements are designed to alleviate the burden of double taxation for individuals and businesses operating in multiple countries, and provide a framework for cooperation between tax authorities.
