Tax info exchange with Maldives, Slovenia gets nod

Tax info exchange with Maldives, Slovenia gets nod

The Union Cabinet, chaired by Prime Minister Narendra Modi approved signing and ratification of an agreement for the exchange of information between India and Maldives with respect to taxes.

The agreement will stimulate effective exchange of information between the two countries and help tax evasion.

 The Cabinet also approved signing of a protocol amending the convention between India and Slovenia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on Income.

 The amendment in the protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.

The Cabinet also gave its approval for signing of a Memorandum of Understanding (MoU) between the Ministry of Urban Development and Bloomberg Philanthropies (BP), New York to support the development of Smart Cities. The proposal entails Bloomberg Philanthropies to work as Knowledge Partner and support the development and execution of a cities challenge under the Smart Cities mission.

In another decision, the Cabinet gave its ex-post facto approval for signing of MoU among BRICS countries on BRICS Network University.

 The negotiations were held on this during the 3rd BRICS Education Ministers meeting and senior officials meeting in November, 2015 at Mosco, Russia.

The MoU will help in developing pro-active cooperation among the BRICS nations for the purpose of enhancement of scientific research, higher education, information exchange, analysis and implementation of best practices, joint research programmes, and mobility of students, researchers and educators, an official statement said after the meeting.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry