India, Japan sign protocol to amend double taxation avoidance
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An official release said the Protocol provides for internationally accepted standards for effective exchange of information on tax matters including bank information and information without domestic tax interest.
It further provides that the information received from Japan in respect of a resident of India can be shared with other law enforcement agencies with authorisation of the competent authority.
The Protocol also provides that both countries shall assist each other in the collection of revenue claims. It gains all the more importance as it is being signed few hours before the arrival of the Japanese Prime Minister in New Delhi.
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