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Rediff.com  » Business » India, Slovak Republic in tax pact

India, Slovak Republic in tax pact

Source: PTI
September 02, 2003 19:56 IST
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The Cabinet on Tuesday approved signing of an agreement with Slovak Republic for the avoidance of double taxation and prevention of tax evasion.

"The agreement after it enters into force will stimulate flow of capital, technology and personnel between the two countries. It will also provide tax stability and reduce any obstacles for providing mutual cooperation," official spokesman told reporters after the Cabinet meeting in New Delhi.

An agreement between Indian and Slovak Republic was signed on May 4, 2001 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. While India had approved the provisions, Slovakian authorities proposed a modification.

The proposed modification will have no major impact on the provisions of the agreement except the fact that the entry into force of the agreement will be delayed for 60 more days.

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