India and Singapore have signed the 3rd protocol for amending Double Taxation Avoidance Agreement (DTAA). Briefing reporters in New Delhi today, Finance Minister Arun Jaitley said the revisiting of this treaty is important as it will help in government’s efforts to eliminate black money.
He said earlier India had amended the DTAA with Mauritius and Cyprus. Mr. Jaitley said 2016 has been historic as these double taxation avoidance agreements will block the routes to evade taxations.
The Minister said from 2019, Switzerland will start giving India real time information on investments by Indian entities in that country in 2018. On demonetization, Mr. Jaitley said things have normalised to a large extent.