Argentina – India Tax Information Exchange Agreement

The government of the Republic of India and the government of the Argentine Republic have collaborated to establish a Tax Information Exchange Agreement (“TIEA”) aimed at facilitating the exchange of information and assisting in tax collection efforts. This agreement was signed in Argentina on November 21, 2011, and officially came into effect on January 28, 2013.

Applicability

This TIEA encompasses the following tax categories:

 a. In India:

• Taxes of every kind and description are imposed by the government.

b. In Argentina:

• Income tax.
• Value-added tax.
• Personal assets tax (bienes personales).
• Tax on presumptive minimum income (ganancias minima presunta).
• Excise tax.
• Tax on financial transactions.

Key Highlights

Key features of the India-Argentina TIEA include:

1. Tax-related information deemed necessary for the purposes of this TIEA will be shared by the competent authorities of both contracting states upon request.
2. Upon request by the competent authority of the requesting party, the requested party may grant permission for representatives of the requesting party to enter its territory, interview individuals, and examine records, with the prior written consent of the individuals involved.
3. Ordinary costs incurred in providing assistance will be borne by the requested party.
4. The contracting parties are committed to supporting each other in the collection of tax claims.
5. Disputes arising in any matter related to the TIEA will be resolved through the mutual agreement procedure.

Inference

The Government of the Republic of India and the Government of the Argentine Republic have entered into a Tax Information Exchange Agreement to streamline the exchange of tax-related information and assist in the collection of taxes. It’s important to note that a TIEA differs fundamentally from a Double Taxation Avoidance Agreement (DTAA), which India typically signs with other countries. While a DTAA addresses the taxation regime concerning income earned by residents of both countries, a TIEA focuses solely on the sharing of tax-related information.

This TIEA serves as a pivotal tool in promoting international cooperation in tax matters and furthering the interests of both India and Argentina in their respective tax collection efforts.

Please note that the above information is intended for general reference and does not constitute legal advice. It is recommended to consult with a qualified legal professional for specific legal matters or to understand the intricacies of this agreement.

Chandrawat & Partners is committed to staying updated on international tax agreements and providing expert legal counsel in matters related to taxation and international law. Our team of experienced lawyers is well-equipped to assist clients with their legal needs and concerns in this area.

For further information or to seek professional guidance on this Tax Information Exchange Agreement or related matters, please do not hesitate to get in touch with us. We are here to serve your legal needs with the utmost dedication and professionalism.