India Signed MoU with Ethiopia to Avoid Double Taxation

India signed two MoUs (Memorandum of Understandings) with Ethiopia to avoid double taxation and promote development of small industries. The agreements were signed after the completion of bilateral talks between Prime Minister  Manmohan Singh and his Ethiopian Counterpart in Addis Ababa on 25 May 2011. An MoU to avoid double taxation and prevention of fiscal evasion with respect to taxes on income was signed by External affairs minister S.M.Krishna and Ethiopian minister for finance and Economic development  Sufian Ahmed.The other agreement entered between the two countries relates to the development of small industries in Ethiopia.

India has tried to assist in Ethiopia’s development through capacity building support and offered lines of credit of more than 700 million US dollars during the last five years.

 India also decided to establish over 80 new institutions in Africa in areas as diverse as agriculture to English language teaching in its support for institutional capacity building. In addition, India will offer 22,000 scholarships and training slots to African students under the Indian Technical and Economic Cooperation (ITEC) programme.