Government on Wednesday approved the protocol amending the agreement between India and Kuwait for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The decision was approved at the Cabinet meeting chaired by Prime Minister Narendra Modi.
The protocol provides for internationally-accepted standards for effective exchange of information on tax matters, including bank information and information without domestic tax interest, an official release said.
“It is further provided that the information received from Kuwait in respect of a resident of India can be shared with other law enforcement agencies with authorisation of the competent authority of Kuwait and vice versa,” it said.