Double Taxation - Current Affairs Questions and Answers

1)   MoU between India and which Asian nation was signed on suspension of collection of taxes at the time of pendency of Mutual Agreement Procedure?

a. North Korea
b. China
c. South Korea
d. Japan
Answer  Explanation 

ANSWER: South Korea

Explanation:
An MoU was signed between India and South Korea to relieve the burden of double taxation for taxpayers in both nations during pendency of MAP or Mutual Agreement Procedure proceedings. This will improve ease of doing business in the two nations as well.

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