Australia will resolve the issue of double taxation, agreed with India in ECTA meeting
Last week there was a meeting between Piyush Goyal and Australia’s Trade and Investment Minister Dan Tehan. The India-Australia Economic Cooperation and Trade Agreement (ECTA) was signed in this meeting. A virtual meeting was held between the two ministers and the agreement was signed.
Piyush Goyal Nasscom Meeting
NASSCOM, an organization of the technology industry (NASSCOM) has welcomed the stand of the Government in which the issue of double taxation has been taken up seriously. In fact, the recently held India-Australia ECTA (India-Australia ECTA) in the meeting the government doubled taxation Avoidance Agreement (DTAA) raised the issue. Considering this concern of India as justified, Australia agreed to find a solution soon. Recently, trade agreements were signed between India and Australia and during this time the government urged Australia to resolve disputes related to foreign tax. The Australian government has agreed to this. NASSCOM has appreciated the move by the government.
Praising the government, NASSCOM has written a letter to Union Commerce and Industry Minister Piyush Goyal. The letter said that on behalf of the technology industry, thanks to the government for putting our problems in front of Australia. It was raised that the foreign tax (offshore taxation) under DTAA should not be increased. Not only this, after this move of the government, the Australian government assured to resolve the issue of DTAA. The people of the Australian side have said that the issue of DTAA will be resolved through Parliament.
Nasscom President Debjani Ghosh told ANI, We are confident that this decade old issue is now on the way to be resolved. For this, the government and the Ministry of Commerce and Industry did their best. The issue of FTA was discussed in detail with the leaders of the technology industry in January 2022 and inputs were sought from all the stakeholders. NASSCOM appreciates the move.
what nasscom said
NASSCOM lauds Govt for taking up double taxation issue in India-Australia ECTA
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— ANI Digital (@ani_digital) April 5, 2022
Last week there was a meeting between Piyush Goyal and Australia’s Minister of Trade and Investment Dan Tehan. The India-Australia Economic Cooperation and Trade Agreement (ECTA) was signed in this meeting. A virtual meeting was held between the two ministers and the agreement was signed. Prime Minister Narendra Modi and his Australian counterpart Scott Morrison were also present during this meeting. In this agreement, it was agreed to enhance trade relations between India and Australia and remove the barriers. In the meeting between the two countries, it was agreed to relax visa rules and provide maximum help to students to promote skills and talent.
The issue of dubt taxation keeps arising in trade with many countries. In this, discrepancies are seen in the tax liability and tax levy rules. Companies have to face a lot of trouble due to tax rules. Industry organizations have always been raising this matter in front of the government and demand to solve it. In view of this, the government raised it in front of Australia and took assurance of solving it.