Termination of tax treaty requires advance diplomatic notice and prescribes when each state's taxation stops under the agreement. Article 29 permits either Contracting State to give diplomatic written notice of termination after a five year period and on or before a yearly deadline; termination takes effect for Malaysia for non petroleum tax from the first January of the calendar year following notice and for petroleum income tax from the first January of the second calendar year following notice, and for India in respect of income arising in any fiscal year beginning on or after the first April following notice. The Protocol clarifies definitions of fiscal year, exclusion of penalties from tax, arm's length conditions, residence taxation, and the meaning of year of assessment.
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Provisions expressly mentioned in the judgment/order text.
Termination of tax treaty requires advance diplomatic notice and prescribes when each state's taxation stops under the agreement.
Article 29 permits either Contracting State to give diplomatic written notice of termination after a five year period and on or before a yearly deadline; termination takes effect for Malaysia for non petroleum tax from the first January of the calendar year following notice and for petroleum income tax from the first January of the second calendar year following notice, and for India in respect of income arising in any fiscal year beginning on or after the first April following notice. The Protocol clarifies definitions of fiscal year, exclusion of penalties from tax, arm's length conditions, residence taxation, and the meaning of year of assessment.
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