Speedy resolution of double taxation issue affecting Indian IT firms: WA Deputy Premier to Minister of State for Commerce

Anupriya Patel, Minister of State for Commerce and Industry, during a meeting with the Deputy Prime Minister of Western Australia, Roger Cook, in New Delhi on Thursday called for expediting the resolution of the complex double taxation issue affecting Indian tech firms operating in Australia. . Under the India-Australia Interim Trade Agreement concluded in April, it was agreed to resolve the double taxation issue. The agreement named India Australia Economic Cooperation and Trade Agreement (ECTA) is yet to come into force.

Australia had agreed to amend its domestic regulation relating to bilateral economic cooperation and implementation of a bilateral free trade agreement, as well as the Double Taxation Avoidance Agreement (DTAA). This is expected to come as a major relief to Indian IT firms such as Infosys, Wipro, TCS and HCL, and will help Indian IT companies scale up operations in Australia.

Patel stressed that the amendment to the DTAA regulation was an important issue that had been agreed upon under the agreement. Both sides recognized the need to expedite the ratification processes for early entry into force of the Ind-Os ECTA for the mutual benefit of both the economies, particularly businesses.

According to the press release issued by the department, on concerns related to delay in issuance of visas for Indian students, Cook looked into the issue of visas for Indian students pursuing higher studies in Australia and similar ways of issuance of visas for tourists. agreed to do. of commerce.

Both sides also exchanged views on important opportunities to strengthen cooperation between India with Western Australia on a range of issues related to various sectors including education, important minerals, agriculture, energy, tourism, mining technology etc.

Patel raised the issues of market access related to certain commodities in the Australian market like potato, okra, cucumber, pineapple, onion etc. and also on possible technical collaboration to increase the yield of agricultural products in India. The two sides also agreed to work towards greater participation in legal mineral mining related activities, sharing of technical cooperation and expertise and working towards a smooth resilient supply chain.

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