India-Portugal Agreement to Avoid Double Taxation and Prevent Fiscal Evasion on Income Taxes Now in Effect.

The notification announces the enforcement of a convention between the governments of India and Portugal to avoid double taxation and prevent fiscal evasion concerning taxes on income. Effective from April 30, 2000, the convention covers taxes imposed by either state, including income tax and corporate tax. It defines terms like "resident" and "permanent establishment" and outlines the taxation of various income types, including business profits, dividends, interest, royalties, and capital gains. The convention also includes provisions for eliminating double taxation, mutual agreement procedures, and the exchange of information. It remains in force indefinitely but can be terminated by either state.

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