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        Case ID :

        Interest Income Shall be exempt if paid to FINNVERA or Finnish Export Credit in Finland - DTAA

        January 16, 2008

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        In the paragraph 3 of Article 12, in the list of Institution, of the DTAA between Government of the Republic of India and the Government of the Republic of Finland the following entry has been inserted:

        FINNVERA and Finnish Export Credit.

        Impact of the above insertion:

        Interest arising in India shall be exempt from Indian tax if the interest is paid to FINNVERA or Finnish Export Credit on or after 28th day of August, 2007.

        Notification No. 5/2008 Income Tax, Dated 10-1-2008

        Interest exemption for payments to designated Finnish export credit agencies under the India-Finland tax treaty. Interest arising in India paid to designated Finnish export credit agencies added to paragraph 3 of Article 12 of the India-Finland DTAA is exempt from Indian tax; the amendment qualifies those institutions as eligible recipients for the exemption and applies from the effective insertion date reflected in the notification.
                          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.

                                Interest exemption for payments to designated Finnish export credit agencies under the India-Finland tax treaty.

                                Interest arising in India paid to designated Finnish export credit agencies added to paragraph 3 of Article 12 of the India-Finland DTAA is exempt from Indian tax; the amendment qualifies those institutions as eligible recipients for the exemption and applies from the effective insertion date reflected in the notification.





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