India and Slovenia last month finalised a double taxation avoidance treaty, a move that is expected to boost trade flows between the two countries.
The agreement, signed by Central Board of Direct Taxes chairman Shobha Majumdar and Slovenia's charge d'affaires Miklav Borstnik, will be effective from April 2006 and will provide for a reduction in tax to 10% in India in respect of interest and royalties.
Dividends will be taxed by the country of residence of the recipient, although the source country will have a secondary right to tax dividends at a lower rate.
The incidence of double taxation will be avoided by the country giving credit for taxes paid in the source country.
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