Taxes on income: treaty covers specified and similar taxes, lists taxable categories and requires mutual notification of law changes. The Convention applies to taxes on income levied by each Contracting State, including taxes on total income or elements of income, gains from alienation of property, and taxes on wages or salaries. It lists existing applicable taxes-Korea: income tax, corporation tax, inhabitant tax; India: income-tax (including applicable surcharge) and surtax-and extends to identical or substantially similar taxes enacted after signature, with a requirement for competent authorities to notify each other of substantial changes in taxation laws.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxes on income: treaty covers specified and similar taxes, lists taxable categories and requires mutual notification of law changes.
The Convention applies to taxes on income levied by each Contracting State, including taxes on total income or elements of income, gains from alienation of property, and taxes on wages or salaries. It lists existing applicable taxes-Korea: income tax, corporation tax, inhabitant tax; India: income-tax (including applicable surcharge) and surtax-and extends to identical or substantially similar taxes enacted after signature, with a requirement for competent authorities to notify each other of substantial changes in taxation laws.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
