Taiwan’s ongoing negotiations with India on a double taxation avoidance agreement could yield positive results in the near future, India’s top envoy to Taiwan said on Tuesday, without giving a timeline as to when a deal might be concluded.
“I can only say that things are moving very well. We are finalizing the details in the very, very near future,” Pradeep Kumar Rawat, the director-general of the India-Taipei Association, said in an interview.
Rawat said bilateral talks on the issue have proceeded for almost a decade, adding that both parties were making final preparations within their own governments to usher in the deal.
“Both sides are really moving very positively and in a very, very fast-paced manner to complete these internal arrangements,” he said.
CONFIDENTIAL
The Taxation Agency under the Ministry of Finance refused, to comment on the possibility, however, citing a confidentiality clause within the Regulations Governing the Processing of Treaties and Agreements.
The agency said the clause prohibits any government employees from speaking publicly about an ongoing negotiation of a treaty.
A double-taxation agreement is a convention signed by two countries aimed to relieve persons who would be otherwise subject to income tax in both countries from being taxed twice.
To date, Taiwan has signed double-taxation agreements with 17 countries, including Singapore, Israel, the UK and Australia.
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