New Delhi, Aug 9 (KNN)  India signed a protocol amending the India - Morocco Double Taxation Avoidance Convention (DTAC)  to promote effective exchange of information between the two countries with regard to tax matters, here yesterday. 

The Protocol was signed by Chairperson, Central Board of Direct Taxes, Sudha Sharma, on behalf of Government of India and Ambassador of the Kingdom of Morocco to India, Larbi  Reffouh, on behalf of the Government of the Kingdom of Morocco.

“The Protocol is based on international standards of transparency and exchange of information.  It provides for effective exchange of information including banking information between tax authorities of the two countries. It also provides that each treaty partner shall use its information gathering measures to obtain the requested information even though it may not need such information for its own domestic tax purposes,” said an official release from the Commissioner of Income Tax, Rekha Shukla.

By promoting effective exchange of information in tax matters, the Agreement will enhance mutual co-operation between the two countries.  (KNN/ES)