CBDT notifies Agreement between India and Samoa for exchange of Tax information

The Central Board of Direct Taxes (CBDT) has notified the Agreement between the Government of the Republic of India and the Government of Samoa for the exchange of information with respect to taxes (AEI/ACT) (Tax Information Exchange Agreement (TIEA)) via issuing Notification.

The Notification Read as follows:

An agreement between the Government of the Republic of India and the Government of Samoa for the exchange of information with respect to taxes was signed at Apia, Samoa on the 12th day of March 2020, as set out in the Annexure to this notification (hereinafter referred to as the “Agreement”).

And, whereas, the said Agreement came into force on the 12th day of September, 2023, being the date of the later of the notifications of the completion of the procedures required by the respective laws of the contracting states for entry into force of the said Agreement, in accordance with paragraphs 1 and 2 of Article 12 of the said Agreement,

And, whereas, paragraph 2 of Article 12 of the said Agreement provides that the Agreement shall have effect forthwith after the date of entry into force;

Now, therefore, in the exercise of the powers conferred by sub-section (1) of section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of the said Agreement, as annexed hereto, shall be given effect to in the Union of India.

Agreement between India and Samoa for exchange of Tax information

The Government of the Republic of India and the Government of Samoa desiring to facilitate the exchange of information with respect to taxes have agreed as follow:

Object and Scope of the Agreement

The competent authorities of the Contracting Parties shall provide assistance through the exchange of information that is foreseeably relevant to the administration and enforcement of the domestic laws of the Contracting Parties concerning taxes covered by this Agreement. Such information shall include information that is foreseeably relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters. Information shall be exchanged in accordance with the provisions of this Agreement. The rights and safeguards secured to persons by the laws or administrative practice of the requested Party remain applicable to the extent that they do not unduly prevent or delay the effective exchange of information.

Jurisdiction

Information shall be exchanged in accordance with this Agreement without regard to whether the person to whom the information relates is, or whether the information is held by, a resident of a Contracting Party. However, a requested Party is not obliged to provide information which is neither held by its authorities nor is in the possession or control of persons who are within its territorial jurisdiction.

Taxes Covered

The taxes which are the subject of this Agreement are:

a) in India, taxes of every kind and description imposed by the Central Government or the Governments of political subdivisions or local authorities, irrespective of the manner in which they are levied;

b) in Samoa, taxes of every kind and description imposed by the Central/Federal Government or the Governments of political subdivisions or local authorities, irrespective of the manner in which they are
levied.

This Agreement shall also apply to any identical or substantially similar taxes imposed after the date of signature of this Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Contracting Parties shall notify each other of any substantial changes to the taxation and related information gathering measures which may affect the obligations of that Party pursuant to this Agreement.

To Read More Download PDF Given Below: