New Delhi, April 13 (IANS) India on Friday said it had notified the protocol amending the Double Taxation Avoidance Convention (DTAC) with Kazakhstan which provides internationally accepted standards for effective exchange of information on tax matters.
The DTAC between the two countries was signed in 1996 for the avoidance of double taxation and prevention of fiscal evasion.
In January last year, the two countries signed an amendment protocol to the same which entered into force on March 12 this year and was notified in the official gazette on April 12, an official statement said.
“The protocol provides internationally accepted standards for effective exchange of information on tax matters. Further, the information received from Kazakhstan for tax purposes can be shared with other law enforcement agencies with the authorisation of the competent authority of Kazakhstan and vice versa,” it said.
The amendments also aim to prevent misuse of the agreement and align it with international standards.