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Recently, Indian and Belgium have signed protocol amending the India-Belgium Double Taxation Avoidance Agreement and Protocol. Consider the following statements regarding the India-Belgium Double Taxation Avoidance Agreement and Protocol:
I. The Protocol will broaden the scope of the existing framework of exchange of tax related information.
II. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.
Which of the following statement(s) is/are correct?
  • a)
        Only I
  • b)
        Only II
  • c)
        Both I and II
  • d)
        Neither I nor II
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Recently, Indian and Belgium have signed protocol amending the India-B...
Answer: c
Explanation:
Recently, India and Belgium have signed a Protocol amending the existing Agreement and Protocol between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income today in New Delhi. The Protocol was signed by Sushil Chandra, Chairman Central Board of Direct Taxes (CBDT) on behalf of India and Mr. Jan Luykx, Ambassador of Belgium to India, on behalf of Belgium.
The Protocol will broaden the scope of the existing framework of exchange of tax related information. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes. Fighting the menace of Black Money stashed in offshore accounts has been a key priority area for the Government. To further this goal, India has either signed or amended international agreements, declarations or conventions for the Avoidance of Double Taxation & Prevention of Fiscal Evasion with respect to Taxes on Income and for the Exchange of Information with Switzerland, Mauritius, Cyprus, Japan, Republic of Korea, Kazakhstan, Singapore and Austria during the financial year 2016-17.
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Recently, Indian and Belgium have signed protocol amending the India-Belgium Double Taxation Avoidance Agreement and Protocol. Consider the following statements regarding the India-Belgium Double Taxation Avoidance Agreement and Protocol:I. The Protocol will broaden the scope of the existing framework of exchange of tax related information.II. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.Which of the following statement(s) is/are correct?a) Only Ib) Only IIc) Both I and IId) Neither I nor IICorrect answer is option 'C'. Can you explain this answer?
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Recently, Indian and Belgium have signed protocol amending the India-Belgium Double Taxation Avoidance Agreement and Protocol. Consider the following statements regarding the India-Belgium Double Taxation Avoidance Agreement and Protocol:I. The Protocol will broaden the scope of the existing framework of exchange of tax related information.II. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.Which of the following statement(s) is/are correct?a) Only Ib) Only IIc) Both I and IId) Neither I nor IICorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Recently, Indian and Belgium have signed protocol amending the India-Belgium Double Taxation Avoidance Agreement and Protocol. Consider the following statements regarding the India-Belgium Double Taxation Avoidance Agreement and Protocol:I. The Protocol will broaden the scope of the existing framework of exchange of tax related information.II. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.Which of the following statement(s) is/are correct?a) Only Ib) Only IIc) Both I and IId) Neither I nor IICorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Recently, Indian and Belgium have signed protocol amending the India-Belgium Double Taxation Avoidance Agreement and Protocol. Consider the following statements regarding the India-Belgium Double Taxation Avoidance Agreement and Protocol:I. The Protocol will broaden the scope of the existing framework of exchange of tax related information.II. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.Which of the following statement(s) is/are correct?a) Only Ib) Only IIc) Both I and IId) Neither I nor IICorrect answer is option 'C'. Can you explain this answer?.
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