India signed a Protocol amending the India - Morocco Double Taxation Avoidance Convention (DTAC) in New Delhi today. The Protocol was signed by Dr Sudha Sharma, Chairperson, Central Board of Direct Taxes on behalf of Government of India and H.E. Mr. Larbi Reffouh, Ambassador of the Kingdom of Morocco to India on behalf of Government of the Kingdom of Morocco.

The Protocol is based on international standards of transparency and exchange of information. It provides for effective exchange of information including banking information between tax authorities of the two countries. It also provides that each treaty partner shall use its information gathering measures to obtain the requested information even though it may not need such information for its own domestic tax purposes.

The Agreement will enhance mutual co-operation between the two countries by having effective exchange of information in tax matters.

Exchange of information expanded to permit banking data transfer and compelled information gathering under the amended DTAC. Protocol amending the India-Morocco Double Taxation Avoidance Convention strengthens cross border tax transparency by requiring effective exchange of information, including banking information, and obliges each treaty partner to use its information gathering measures to obtain requested information even if not needed for its own domestic tax purposes.