Agreement signed between India and Albania for the avoidance of double taxation
On 8th July 2013 government of India and Albania signed an agreement on avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital. The agreement was signed by Dr. Sudha Sharma, chairperson, CBDT, on behalf of the government of India and Mr. Fatos Kerciku, Ambassador , Republic of Albania on behalf of the government of Albania.
It is meant to promote investments, increase the flow of technology and technical services between the two countries. The agreement provides that business profits will be taxable in the source state if the activities of an enterprise constitute a Permanent Establishment (PE) in the source state.
It will facilitate mutual economic cooperation between the two countries and provides tax stability to residents of India and Albania