Indian govt. approves MoU to ban double taxation with Iran

MNA – The Indian government, in an unprecedented move, approved a Memorandum of Understanding (MoU) which calls banning imposition of double taxation with the Islamic Republic of Iran, the issue of which leads to the increased investment and reduced tax evasion.

In its latest edition, Indian-based “Economic Times” wrote, “under the notification released on Wednesday, the Indian Board of Ministers, headed by the Indian Prime Minister Namenda Modi, confirmed the aforesaid Memorandum of Understanding (MoU) which was signed and sealed in the course of historic visit of Iranian President Hassan Rouhani to India last month.”

Singing and sealing the Memorandum of Understanding (MoU) will promote bilateral investment and accelerate exchange of technical knowhow and knowledge between the two countries of Iran and India.”

Moreover, the agreement inked between Iran and India will prevent double taxation by concerned economic activists, the issue of which will boom mutual trade and business cooperation, the report added.

Also, the Indian government approved mutual cooperation agreement in medical, healthcare and agricultural fields.

It is worth mentioning that a number of 15 cooperation agreements were signed between the two countries in the course of visit of Iranian President Hassan Rouhani to India on Feb. 15.

Avoiding double taxation, abolishing bilateral political visa, cooperating in the field of agriculture and anti-dumping activities, constructing first phase of strategic Chabahar Port, cooperating with Islamic Republic of Iran Post Company and Indian Postal Services Department, etc. were highlights of the agreements inked between Iran and India, the report stressed.

Of the other cooperation agreements inked between the two countries of Iran and India, it should be referred to signing a MoU between Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and India’s FICCI Chamber of Commerce, inking a cooperation agreement between Iran Chamber of Commerce and India’s Asshocham Chamber of Commerce and signing a cooperation agreement between Iran Chamber of Commerce and India’s PHD Chamber of Commerce, the report concluded.