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India and Malta have renegotiated their Double Taxation Avoidance Agreement (DTAA) and the Protocol to bring it in line with international standards, change in domestic laws and changed economic scenario.
The DTAA and the Protocol between the two countries for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income is in force since February 8, 1995.
On April 8, 2013, India and Malta signed the new DTAA at Valetta, Malta. The DTAA was signed by the Preneet Kaur, Minister of State for External Affairs of India and George Vella, Foreign Minister of Malta.
Once the new DTAA enters into force, it will stimulate the flow of capital, technology and personnel between both the countries and will further strengthen the economic relationship.
It also provides tax stability and reduces any obstacles in providing mutual cooperation between India and Malta, the finance ministry said in a statement today.
