India and Austria signed a Protocol amending the existing Convention between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income here today. The Protocol was  signed by Shri  Sushil Chandra, Chairman CBDT on behalf of India and Mr. Georg Zehetner, Charge d’ Affaires, Embassy of Austria on behalf of Austria.

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.

Exchange of tax information expanded by India Austria Protocol to curb tax evasion and enable mutual collection assistance. A Protocol amending the existing India-Austria Convention broadens the scope of exchange of tax-related information to strengthen cooperation against cross-border tax avoidance and evasion, and enables mutual assistance in the collection of taxes, thereby enhancing administrative cooperation and enforcement capacity between the two countries.