Fiji, India ink double tax avoidance deal

2014-02-01T11:00:00Z

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;">With the signing of a double tax avoidance agreement with India, Fiji expects an increased interest from Indian businesses to invest in the country, according to a news release from the Fijian Government. <!--more--></span></span></span>

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;"><a href="https://pacifictradeinvest.com/PTI/wp-content/uploads/2013/12/handshake.jpg"><img class="size-full wp-image-5582 alignleft" alt="handshake" src="https://pacifictradeinvest.com/PTI/wp-content/uploads/2013/12/handshake.jpg" width="138" height="104" /></a>The agreement will prevent Indian investors from being taxed in India on business profits earned in Fiji. The same would be the case for Fijian investors in India. Fiji has such agreements with some other countries regionally.</span></span></span>

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;">Speaking from New Delhi, India, the Attorney-General explained that the DTAA will prevent Indian investors from being taxed in India on business profits earned in Fiji, making it much more appealing for them to invest in the country, growing the economy and creating jobs for ordinary Fijians.</span></span></span>

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;">The Fijian Government expects the agreement to boost the Fijian economy by encouraging a stronger flow of investment, technology and services between Fiji and India, one of the largest and fastest growing economies in the world.</span></span></span>

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;">The Attorney-General said that with this agreement in force, the generous investment incentives offered by the Bainimarama Government would be much more attractive to Indian investors, ultimately leading to more jobs for ordinary Fijians.</span></span></span>

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;">In what could well be a boon to Fijian students studying in India, of which there are growing numbers, the agreement spares them from paying taxes, if they choose to work whilst studying in India. Under the agreement the Indian Revenue and Tax Authority will assist Fiji Revenue and Customs Authority to recover any taxes owed to Fiji, by individuals or companies residing in India.</span></span></span>

<span style="font-size: medium;"><span style="color: #000000;"><span style="font-family: Cambria;">The agreement was signed in the Indian capital New Delhi last week in the presence of senior Indian and Fijian Government officials.</span></span></span>