DTAA: India Wants Aus To Stop Tax On IT Cos’ Offshore Income

| Updated: 14 July, 2022 1:00 pm IST

NEW DELHI: There is a need for an early amendment to the India-Australia Double Taxation Avoidance Agreement (DTAA) to stop taxation on offshore income of Indian IT firms, Union MoS for Commerce Anupriya Patel told a senior Australian official.

The Union minister of state raised the matter during her meeting with visiting deputy premier of Western Australia, Roger Cook here on Wednesday. “The amendment to DTAA regulation is a very important issue which was agreed under the Ind-Aus ECTA (India Australia Economic Cooperation and Trade Agreement),” she said.

A DTAA is a bilateral agreement to promote and foster economic trade and investment between the two signatory countries by avoiding double taxation.

The minister also raised with the visiting dignitary the issues of delay in issuance of visa for Indian students. The Australian side agreed to look into the ways to facilitate early processing and issuance of visa for Indian students pursuing higher studies in Australia, and also for the tourists.

During the meeting, both the sides acknowledged the need to expedite the ratification processes of the Ind-Aus ECTA which was signed in April this year.

“Discussions also explored on market access issues relating to certain commodities such as potato, okra, gherkins, pineapple, onion etc in Australian market and also on possible technical collaboration for increasing yield for agricultural products in India,” as per the Ministry of Commerce and Industry.

The two leader also exchanged views on significant opportunities to strengthen the cooperation between India with the Australian state of Western Australia on a range of issues pertaining to various sectors including education, critical minerals, agriculture, energy, tourism, mining technology etc.

Minister Patel said that the bilateral relations between India and Australia have undergone transformative evolution in recent years and there is enormous scope for cooperation in various fields and improving the existing level of bilateral trade and investment.

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