India and Morocco have signed a protocol to their Double Taxation Avoidance Convention (DTCA) that will bring its information exchange provisions in line with international standards.
The changes were inked in New Delhi on August 8. Sudha Sharma, Chair of the Central Board of Direct Taxes represented India, and was joined by the Moroccan Ambassador Larbi Reffouh.
Once the protocol enters into force, the two countries will be able to share effectively a wider range of information, including that held by banks. Each treaty partner will be able to take advantage of the provisions to obtain information, even in cases where that information is not required for its own domestic purposes.
According to the Indian Finance Ministry, the agreement will enhance co-operation with Morocco.
by Mary Swire, Tax-News.com, Hong Kong
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