IT companies’ tax issues to figure in trade talks with Australia


India will raise the tax issue being faced by Indian IT companies with Australia under the double taxation avoidance agreement, during a meeting between the two countries’ trade ministers next month, according to an official. Both countries signed the Double Taxation Avoidance Agreement (DTAA) in 1991 and it was updated in 2013.

India has called for an early amendment of the regulations under the DTAA to stop taxation of the offshore income of Indian firms providing technical support in Australia.

Australian trade minister Don Farrell is expected to visit India by the end of September for joint ministerial commission meeting. Commerce and industry minister Piyush Goyal will attend the meeting.

Earlier, New Delhi has emphasised that the amendment of the DTAA regulations was an important issue, which was agreed upon under the India-Australia trade agreement.

Student visas, ratification of trade pact for early implementation and market access issues relating to commodities such as potato, pineapple, and onion in the Australian market are also expected to come up during the meeting.

Source: The Economic Times

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