The double taxation agreement (DTA) between Taiwan and India, which was signed only last month, entered into force on August 12, 2011.
The DTA, which was said to be the 21st such agreement signed by Taiwan, is part of a growing economic cooperation between Taiwan and India. A customs cooperation agreement between the two countries was signed at the same time as the DTA, and came into effect on August 1, while there are also bilateral agreements on investment, technology and education.
The DTA will, for example, establish the taxing rights over permanent establishments in each country, while reduced withholding taxes on dividends and interest should promote a rise in the flow of capital investment.
Furthermore, it was reported that bilateral trade values were the equivalent of almost USD6.5bn in 2010, over 50% higher than the previous year, and had reached nearly USD5bn in the first seven months of 2011, an increase of over 38% from the same period last year.
.Tags: tax | law | trade | agreements | education | double tax agreement (DTA) | withholding tax | India | Taiwan | dividends | interest | Taiwan | India
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