India asks Australia for early revision of DTAA to end double taxation on its cos

New Delhi: India on Thursday pitched for an early amendment of the regulations on the Double Taxation Avoidance Agreement (DTAA) to stop the taxation on the offshore income of Indian firms providing technical support in Australia.

Minister of State for Commerce and Industry Anupriya Patel raised the issue during her meeting with Deputy Premier of Western Australia Roger Cook here.

She emphasised that the amendment of the Double Taxation Avoidance Agreement regulation is a "very" important issue, which was agreed upon under the India-Australia trade agreement.

India and Australia signed Economic Cooperation and Trade Agreement in April. It has not yet come into force.

The minister "has stressed upon the need for an early amendment of the regulation pertaining to DTAA to stop the taxation on the offshore income of Indian firms providing technical support," an official statement said.

On the concerns related to the delay in issuance of visas for Indian students, the Australian side agreed to look into ways to facilitate early processing and issuance of visas for Indian students pursuing higher studies in Australia and similarly for the tourists, it added.

The two sides also exchanged views on significant opportunities to strengthen the cooperation between India and Western Australia on a range of issues pertaining to various sectors, including education, critical minerals, agriculture, energy, tourism and mining technology.

Both sides acknowledged the need to expedite the ratification processes for early implementation of the trade pact for the mutual benefit of both the economies, in particular, the businesses.