NEW DELHI: India and Hong Kong today signed a bilateral double taxation avoidance treaty to curb evasion and promote flow of investment.
The Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion will stimulate flow of investment, technology and personnel from India to Hong Kong Special Administrative Region (HKSAR) and vice versa, an official statement said.
It will also prevent double taxation and provide for exchange of information between the two countries.
“It will improve transparency in tax matters and will help curb tax evasion and tax avoidance,” the statement added. (AGENCIES)
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