MONTEVIDEO (NNN-PRENSA LATINA) - Uruguay and India have taken another step towards boosting bilateral trade and investment by signing an agreement on double taxation.The agreement aims to avoid double taxation and prevent fiscal evasion on income tax and assets, the Uruguayan Ambassador to India Cesar Ferrer said.
After signing the agreement with M. C. Joshi, president of the Central Board of Direct Taxes in New Delhi, India's capital, Ferrer praised the productive work done by both negotiating teams in Aug last year when negotiations were completed.
Along with the agreement on the Promotion and Protection of Investments, this will provide a legal framework favourable to the two countries in trade, services and investment, said Ferrer.
Last year, the purchase-sale between the two nations was nearly US$69 million and they aspire to reach US$100 million this year, said Ferrer.
Ferrer said that many Indian companies are interested in establishing in Uruguay, as part of a strategy to use the country as a gateway to the promising Southern Common Market (Mercosur) bloc which also includes Brazil, Argentina and Paraguay. -- NNN-PRENSA LATINA
0 comments:
Post a Comment