Friday, 3 April 2015

Nepal's Treaties & Agreement: what & Why?

With the aim of encouraging Indian investment in Nepal the GON and GOI entered  a double taxation avoidance agreement (DTAA) and a prevention of fiscal evasion agreement in 2011

To promote economic cooperation between two countries.
This treaty is based on modern taxation principles and in line with the current international environment is the replacement of the agreement on double taxation avoidance signed in 1987.
It is aimed at facilitating exchange of information on banking between the two countries and to help prevent tax evasion.
The  bilateral investment promotion and protection agreement (BIPPA) is an agreement signed by the Gon with India to promote, protect and encourage investment by investors of one state in the territory of the other state.
To promote, protect and encourage investment.
The agreement on the south Asian free trade area(SAFTA) was made between the agreement of south asian association for regional cooperation (SAARC) member states, comprising of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Srilanka.
To strengthen intra SAARC economic cooperation by maximizing the region's potential for trade & development.

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