Cabinet approves pact with Russia, Luxembourg

New Delhi, Feb 21 (UNI) The Cabinet today gave its ex-post-facto approval for the bilateral agreement signed on November 12, 2007 at Moscow between India and Russia for cooperation in combating illicit trafficking in narcotics, psychotropic substances and their precursors.

India already has such agreements with the United States, Afghanistan, Mauritius, Myanmar, Zambia, UAE, Egypt, China, Iran, Bulgaria, Romania, Italy, Tajikistan, Turkey, Lao PDR, Israel, Bangladesh and Kuwait.

The Cabinet also gave its approval to the agreement for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and on capital between India and Luxembourg.

The agreement will stimulate the flow of capital, technology and personnel from India to Luxembourg and vice versa. It will provide tax stability and reduce any obstacles in providing mutual cooperation.

India has such treaties with 71 other countries.

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