Implementation of Tax Information Exchange Agreement between the Governments of India and Samoa.
The Ministry of Finance, Government of India, issued Notification No. 21/2024-Income Tax dated February 07, 2024, announcing the implementation of an agreement between the Governments of India and the Governments of Samoa regarding the exchange of tax-related information.
The agreement aims to facilitate the exchange of information relevant to tax administration and enforcement between the two countries. It covers various taxes imposed by both nations and applies to existing as well as future taxes.
The agreement defines terms, outlines procedures for exchanging information upon request, ensures confidentiality, addresses costs, and mandates legislative compliance. It establishes a mutual agreement procedure for resolving implementation or interpretation issues and sets forth provisions for termination.
The agreement entered into force on September 12, 2023, and remains effective until terminated by either party with a notice period. The notification includes the full text of the agreement, signed in duplicate in Hindi and English, with English prevailing in case of interpretation discrepancies.
The Notification along with the annexures can be accessed at: https://www.a2ztaxcorp.com/wp-content/uploads/2024/02/CBDT-Notification-No.-21-2024.pdf