Notification of Revised Double Taxation Avoidance Agreement (DTAA) between India and Republic of Korea – regarding

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ification of Revised Double Taxation Avoidance Agreement (DTAA) between India and Republic of Korea - regarding The existing Double Taxation Avoidance Convention between India and Korea was signed on 19th July, 1985 and was notified on 26th September 1986. A revised DTAA between India and Korea for the Avoidance of Double Taxation and the Prevention of Fiscal evasion with respect to taxes on in....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ing tax rates from 15% to 10% on royalties or fees for technical services and from 15% to 10% on interest income. (iii) The revised DTAA expands the scope of dependent agent Permanent Establishment provisions in line with India's policy of source based taxation. (iv) To facilitate movement of goods through shipping between two countries and in accordance with international principle of taxat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... a Memorandum of Understanding (MoU) on suspension of collection of taxes during the pendency of Mutual Agreement Procedure (MAP) has already been signed by Competent Authorities of India and Korea on 9^th December 2015. The MoU provides for suspension of collection of outstanding taxes during the pendency of MAP proceedings for a period of two years (extendable for a further maximum period of thr....