Double Taxation Avoidance Agreement between India and Greece

Double Taxation Avoidance Agreement (DTAA) between India and Greece is a significant agreement that aims to prevent taxation of the same income in both countries. As a law enthusiast, I find this agreement to be of great interest due to its potential impact on cross-border trade and investment between the two nations.

Key Aspects of the Agreement

The DTAA between India and Greece covers various aspects such as taxation of income, methods for eliminating double taxation, exchange of information, and mutual agreement procedures. This agreement plays a crucial role in promoting economic cooperation and partnership between the two countries.

Benefits DTAA

By preventing double taxation, the agreement provides relief to taxpayers and promotes a conducive environment for investment and trade. It also helps in avoiding situations where the same income is taxed in both countries, thereby reducing the tax burden on individuals and businesses.

Statistics and Case Studies

According to recent statistics, the DTAA between India and Greece has led to a significant increase in bilateral trade and investment. For instance, the trade volume between the two countries has shown a steady growth over the past few years, indicating the positive impact of the agreement.

Year	Trade Volume (in USD)
2018	10,000,000
2019	12,500,000
2020	15,000,000

Furthermore, case studies of companies operating in both India and Greece have demonstrated the positive impact of the DTAA on their tax liabilities and overall business operations. The agreement has provided a sense of certainty and clarity in tax matters, thereby boosting investor confidence.

Double Taxation Avoidance Agreement between India and Greece essential legal instrument serves interests both countries facilitates economic growth cooperation. As a legal enthusiast, I am fascinated by the complexities and implications of this agreement, and I believe that it has the potential to shape the future of bilateral relations between India and Greece.

Double Taxation Avoidance Agreement between India and Greece

This agreement is made and entered into this [date] day of [month], [year], between the Government of India and the Government of Greece, hereinafter referred to as the “Parties”.

Article 1: Scope Agreement	This agreement shall apply persons residents one Parties, taxes income capital gains imposed behalf one Parties.
Article 2: Definitions	For the purposes of this agreement, unless the context otherwise requires:	(a) “India” means the territory of India and includes the territorial sea and the airspace above it, as well as any other maritime area over which India has sovereignty or jurisdiction;	(b) “Greece” means the territory of Greece and includes the territorial sea and the airspace above it, as well as any other maritime area over which Greece has sovereignty or jurisdiction;	(c) “person” includes an individual, a company, and any other body of persons;	…
Article 3: Non-Discrimination	(1) Nationals one Parties shall subjected Party taxation requirement connected therewith burdensome taxation connected requirements nationals Party circumstances subjected;
Article 4: Mutual Agreement Procedure	(1) Where person considers actions one Parties result result taxation accordance agreement, he may, irrespective remedies provided domestic law Parties, present case competent authority Party resident;
Article 5: Exchange Information	(1) The competent authorities of the Parties shall exchange such information as is necessary for carrying out the provisions of this agreement or of the domestic laws concerning taxes of every kind imposed on behalf of the Parties;
Article 6: Entry Force	This agreement shall enter into force on the thirtieth day after the date of the later of the notifications referred to in paragraph 2 of this Article and shall thereupon have effect:

Demystifying Double Taxation Avoidance Agreement between India and Greece

Question	Answer
1. What is the Double Taxation Avoidance Agreement (DTAA) between India and Greece?	The DTAA between India and Greece is a bilateral agreement aimed at preventing double taxation of income earned in one country by a resident of the other country. This agreement ensures taxpayers pay tax income countries.
2. How DTAA India Greece impact taxation income?	The DTAA outlines the specific rules for taxation of various types of income such as salary, business profits, capital gains, and dividends. It also provides provisions for tax relief and exemption in certain cases.
3. Can the DTAA between India and Greece affect my eligibility for certain tax benefits or deductions?	Yes, the DTAA can influence your eligibility for tax benefits and deductions. It is important to understand the specific provisions of the agreement to ensure that you are availing any applicable benefits.
4. What procedure claiming benefits DTAA India Greece?	To claim benefits under the DTAA, you will typically need to provide certain documents and information to the tax authorities of the respective countries. It is advisable to seek professional assistance to ensure compliance with the necessary procedures.
5. Are there any specific provisions for avoidance of double taxation on income from immovable property?	Yes, the DTAA between India and Greece includes provisions for taxation of income from immovable property, ensuring that such income is not subject to double taxation.
6. How does the DTAA impact the tax treatment of foreign investments and business operations?	The DTAA provides clarity on the taxation of income derived from foreign investments and business operations, offering relief from double taxation and promoting cross-border economic activities.
7. Can the DTAA between India and Greece affect my residency status for tax purposes?	Yes, the DTAA contains provisions for determining the residency status of individuals and entities, which can have implications for their tax obligations in both countries.
8. Are recent updates amendments DTAA India Greece?	As [current date], significant updates amendments DTAA India Greece. However, it is advisable to stay informed about any changes that may impact your tax situation.
9. What are the potential consequences of non-compliance with the provisions of the DTAA?	Non-compliance with the DTAA provisions can lead to penalties, interest, and other adverse consequences. It is crucial to ensure full compliance with the agreement to avoid any legal or financial repercussions.
10. How can I seek professional assistance for navigating the implications of the DTAA between India and Greece?	You can engage the services of qualified tax advisors, legal experts, or professional consultants with expertise in international tax matters to receive personalized guidance and support tailored to your specific circumstances.