New Delhi, Nov 7 (UNI) The Government on Tuesday notified the third protocol for amendment of the Convention between India and New Zealand for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. This was signed by both countries on 26th October 2016.
The Protocol entered into force in India on 7th September 2017 and has been notified in the Official Gazette on 2nd November 2017.
The Protocol updates the existing framework of exchange of tax related information to latest international standard which would help curb tax evasion and tax avoidance between the two countries and would also enable mutual assistance in collection of taxes.