Avoidance of double taxation advances regional tax cooperation and information exchange under the SAARC multilateral agreement. The SAARC Limited Multilateral Agreement mandates regional cooperation to avoid double taxation and provide mutual administrative assistance, applying to residents of Member States and to taxes on income as listed in Schedule II. It prescribes residency tie breaker rules for individuals and place of effective management for entities, establishes exchange of information and confidentiality safeguards, authorises assistance in collection of revenue claims subject to domestic law and proportionality limits, and provides specific short term tax exemptions for visiting academics and students. Competent Authorities are to consult, implement, review and amend the Agreement by consensus.
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Provisions expressly mentioned in the judgment/order text.
Avoidance of double taxation advances regional tax cooperation and information exchange under the SAARC multilateral agreement.
The SAARC Limited Multilateral Agreement mandates regional cooperation to avoid double taxation and provide mutual administrative assistance, applying to residents of Member States and to taxes on income as listed in Schedule II. It prescribes residency tie breaker rules for individuals and place of effective management for entities, establishes exchange of information and confidentiality safeguards, authorises assistance in collection of revenue claims subject to domestic law and proportionality limits, and provides specific short term tax exemptions for visiting academics and students. Competent Authorities are to consult, implement, review and amend the Agreement by consensus.
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