Cabinet approves protocol amending the Agreement between India and Sri Lanka for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income https://www.taxtmi.com/news?id=22524 A protocol was approved to amend the DTAA by updating the treaty preamble and inserting a Principal Purpose Test as a general anti abuse provision to meet BEPS Action 6 minimum standards. Because the counterparty is not a signatory to the MLI, the amendment will be effected bilaterally through signing and ratification to prevent treaty abuse and curb tax planning that exploits rule mismatches. en-us Wed, 12 Feb 2020 16:03:44 +0530 Wed, 12 Feb 2020 16:03:44 +0530 TaxTMI RSS Generator Cabinet approves protocol amending the Agreement between India and Sri Lanka for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income https://www.taxtmi.com/news?id=22524 A protocol was approved to amend the DTAA by updating the treaty preamble and inserting a Principal Purpose Test as a general anti abuse provision to meet BEPS Action 6 minimum standards. Because the counterparty is not a signatory to the MLI, the amendment will be effected bilaterally through signing and ratification to prevent treaty abuse and curb tax planning that exploits rule mismatches. News - Wed, 12 Feb 2020 16:03:44 +0530 https://www.taxtmi.com/news?id=22524