India and Iran signed in New Delhi an Agreement for the Avoidance of Double Taxation (DTAA) and the Prevention of Fiscal Evasion with respect to taxes on income. The Agreement is on similar lines as entered into by India with other countries.The Agreement will stimulate flow of investment, technology and personnel from India to Iran & vice versa, and will prevent double taxation. The Agreement will provide for exchange of information between the two Contracting Parties as per latest International Standards. It will improve transparency in tax matters and will help curb tax evasion and tax avoidance.
The Agreement also meets treaty related minimum standards under G-20 OECD Base Erosion & Profit Shifting (BEPS) Project, in which India participated on an equal footing.
The two leaders stressed that terrorism cannot and should not be associated with any religion, nationality or ethnic group. They urged an immediate end to all support and sanctuaries enjoyed by terrorist groups and individuals and were of the view that states that aid, abet and directly or indirectly support terrorism should be condemned.
Iran's President Hassan Rouhani was greeted at the Rashtrapati Bhavan by Prime Minister Narendra Modi and Ram Nath Kovind on the last of his three-day visit of the country. PM Modi said India-Iran ties have strengthened under Mr Rouhani's leadership. "We want to increase connectivity and trade. We want to strengthen our strong cultural ties. Landlocked Afghanistan has got a golden gateway in Chabahar... We will support the rail link," PM Modi said. India and Iran also signed nine agreements, including on easing visa rules and cooperation on medical sector, apart from a maritime agreement on Chabahar Port development. Mr Rouhani's visit comes a month after Israel's Prime Minister Benjamin Netanyahu was here, indicating India's delicate balancing act.
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