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The Union Cabinet today gave its approval for signing of the Convention on behalf of the Government of India and the Government of Serbia and Montenegro for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital and also gave its approval for bringing the Convention into force. India has so far signed and notified such bilateral treaties for avoidance of double taxation with 69 other countries.
The Convention after it enters into force will stimulate the flow of capital, technology and personnel from India to Serbia and Montenegro and vice-versa. It will provide tax stability and reduce any obstacles for providing mutual cooperation.
YSR/DS/HS/LV
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