Government gives approval for the amendment of the Double Taxation Avoidance Agreement with Turkmenistan.
Q. Government has approved the amendment of DTAC/Double Taxation Avoidance with which country?- Published on 09 Nov 15a. Uzbekistan
b. Afghanistan
c. Pakistan
d. Turkmenistan
ANSWER: Turkmenistan
Government has approved the amendment for the Double Taxation Avoidance Convention with Turkmenistan. The amendment to the DTAC has been approved by the Cabinet with regard to taxes on income and capital via a Protocol, as per the official release. Protocol makes provisions for globally accepted standards for effective information on tax issues including bank information and data without domestic tax interest. Information sharing between Turkmenistan and India has also been approved with the authorisation of the Competent Authority of the former country and vice versa. As per the statement, the protocol also provides for Limitation of Benefits article to prevent misuse of the convention.
