India and Oman Strengthen Ties with Tax Pact Update

India and Oman agreed to amend their Double Taxation Avoidance Agreement (DTAA) to align with international standards, simplifying tax procedures and promoting cooperation. The amendments were signed during Commerce Minister Piyush Goyal's visit to Muscat. Additionally, discussions on a Comprehensive Economic Partnership Agreement are progressing.

In a significant development, India and Oman have reached an agreement to amend the Double Taxation Avoidance Agreement (DTAA), aligning it with international cross-border taxation standards, thus streamlining tax procedures and bolstering cooperation in fiscal matters.

During a pivotal visit by Commerce and Industry Minister Piyush Goyal to Muscat, a protocol to this effect was formally signed, marking a step towards improved economic collaboration between the two nations.

Amid advanced negotiations for a Comprehensive Economic Partnership Agreement (CEPA), the move aims to enhance bilateral trade and investments, amidst broader discussions of eliminating customs duties and promoting trade in services.

(With inputs from agencies.)