Cabinet nod to India-Kuwait agreement on double taxation

New Delhi, Apr 5 (UNI) The Union Cabinet today gave its approval for the signing of the agreement between India and Kuwait for the avoidance of double taxation and prevention of tax evasion with respect to taxes on income.

The agreement will stimulate the flow of investment, technology and services from India to Kuwait and vice versa, Defence Minister Pranab Mukherjee told reporters after the Cabinet meeting that gave the approval.

It will also provide tax stability to the residents of India and Kuwait and facilitate mutual economic cooperation.

India has so far signed and notified such bilateral agreements with 69 other countries.

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