India, Israel signed pacts on Double Taxation Avoidance & Cultural Exchange

The pact on tax avoidance will help plug loopholes in tax evasion and ensure that the Indian or Israeli companies are taxed only where they have permanent establishments.

Created On: Oct 15, 2015 12:12 ISTModified On: Oct 15, 2015 18:17 IST

India and IsraelIndia and Israel on 14 October 2015 signed two agreements to enhance bilateral cooperation. The agreements were inked after President Pranab Mukherjee, who was in Jerusalem on the final leg of his tri-nation tour to West Asia, held a meeting with his Israeli counterpart Reuven Rivlin.

The two agreements which were signed includes
• A cultural exchange programme for 2015-2018
• The amendment to the protocol on Double Taxation Avoidance Agreement

The pact on tax avoidance will help plug loopholes in tax evasion and ensure that the Indian or Israeli companies are taxed only where they have permanent establishments.

President Pranab Mukherjee's three-day historic visit to the Jewish state, the first by an Indian Head of State, was held between 13 October and 15 October 2015.

During this visit to Israel, President Mukherjee also addressed the Knesset (Israeli Parliament). He also visited to the Holocaust Museum.

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