The Cabinet has granted approval for the Government to sign three key agreements for the prevention of double taxation on income tax and avoid tax evasion.
The Government has reached the following three agreements for this purpose.
1. Signing the alliance for the agreement with the Government of the Republic of India to avoid double taxation and tax evasion on Income Tax
2. Signing of an agreement with the Government of the Republic of Turkey on the prevention of double taxation and tax evasion on Income Tax
3. Signing an agreement with the Government of the Czech Republic to prevent double taxation and tax evasion on Income Tax.
Accordingly, the Cabinet of Ministers has granted approval to the proposal presented by the Minister of Finance to sign the said agreements.
The agreements are thereafter to be submitted to Parliament for approval as per the provisions of the Inland Revenue Act No. 24 of 2017. (NewsWire)