India, Thailand sign MoU on avoiding double taxation

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SME Times News Bureau | 30 Jun, 2015
India and Thailand on Monday exchanged the Instruments of Ratification of the extradition treaty and also an agreement for the avoidance of double taxation after talks in Bangkok between External Affairs Minister Sushma Swaraj and Thai Deputy Prime Minister Gen. Tanasak Patimapragorn.

The two leaders also reviewed the bilateral ties during the Seventh Thailand-India Joint Commission meeting.

Sushma Swaraj, who is on a two-day visit to Thailand, inked a treaty to provide the legal framework for seeking extradition of fugitive offenders, including those involved in terrorism, transnational crimes, economic offences etc.

The treaty provides for the extradition of any person who is wanted for trial or for the imposition or enforcement of a sentence by one contracting state and is found in the territory of the other contracting state.

This will help both countries in expedited extradition of fugitives.

This treaty will further strengthen the relationship between law enforcement agencies by providing a firm legal basis for their bilateral cooperation, said an official statement.

Both sides also inked an MoU on establishment of the Nalanda University.

By signing this agreement, Thailand joined other East Asian Summit (EAS) countries in the establishment of the university.

Both sides also inked an agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income, so as to promote economic cooperation between two countries.

The two countries also inked an MoU on the establishment of the 'Academic Chair' in ayurveda, according to which the Central Council for Research in Ayurvedic Sciences will set up a Chair at Rangsit University in Thailand to undertake academic and research activities in ayurveda.