Australian Economy

DTAA: Double taxation on Indian IT firms need to stop; bring amendment to DTAA regulation: India to Australia

India on Thursday pitched for an early amendment of the regulations on the Double Taxation Avoidance Agreement (DTAA) to stop the taxation on the offshore income of Indian firms providing technical support in Australia. Minister of State for Commerce and Industry Anupriya Patel raised the issue during her meeting with Deputy Premier of Western Australia Roger Cook.

She emphasised that the amendment of the DTAA regulation is a “very” important issue, which was agreed upon under the India-Australia trade agreement.

India and Australia signed Economic Cooperation and Trade Agreement in April. It has not yet come into force.

The minister “has stressed upon the need for an early amendment of the regulation pertaining to DTAA to stop the taxation on the offshore income of Indian firms providing technical support,” an official statement said.

On the concerns related to the delay in issuance of visas for Indian students, the Australian side agreed to look into ways to facilitate early processing and issuance of visas for Indian students pursuing higher studies in Australia and similarly for the tourists, it added.

The two sides also exchanged views on significant opportunities to strengthen the cooperation between India and Western Australia on a range of issues pertaining to various sectors, including education, critical minerals, agriculture, energy, tourism and mining technology.

Both sides acknowledged the need to expedite the ratification processes for early implementation of the trade pact for the mutual benefit of both the economies, in particular, the businesses.

Discussions also explored market access issues relating to certain commodities, such as potato, okra, gherkins, pineapple, and onion in the Australian market, and also on possible technical collaboration for increasing yield for agricultural products in India.

Further, both sides agreed to work towards having extensive engagement in activities relating to legal mineral mining, extending technical cooperation and expertise sharing and working towards a smooth resilient supply chain.

The Indian and Australian sides noted that there are significant opportunities which exist to strengthen cooperation in sectors like critical mining, education, agriculture, mining and mining equipment, technology, energy, tourism etc. and there is a need to work together for result-oriented outcomes.

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