JOIN USIndia on Monday inked an agreement with Thailand for avoidance of double taxation and prevention of tax evasion.
External Affairs Minister Sushma Swaraj and Gen Tanasak Patimapragorn, Deputy Prime Minister and Minister of Foreign Affairs of Thailand, signed the agreement in Bangkok after they co-chaired the meeting of India-Thailand joint commission.
The agreement will provide the framework to avoid double taxation and prevention of fiscal evasion with respect to taxes on income so as to promote economic cooperation between India and Thailand, official sources in the Ministry of External Affairs (MEA) said.
India and Thailand also ratified the extradition treaty inked by the two countries during the then Prime Minister Manmohan Singh’s visit to Bangkok in 2013. Swaraj’s meeting with Patimapragorn also followed an exchange of instruments of ratification of the extradition treaty, which will provide the legal framework for seeking extradition of fugitive offenders, including those involved in terrorism, transnational crimes and economic offences.
The treaty provides for the extradition of any person who is wanted for trial or for the imposition or enforcement of a sentence by one contracting state and is found in the territory of the other contracting state.