In exercising the powers conferred by section 90 of the Income Tax Act, 1961 (43 of 1961) and Section 44A of the Wealth-tax Act, 1957 (27 of 1957) read by item (ii) (a) paragraph 3 of Article 12 of the agreement between the Government of the Republic of India and the Government of the Republic of Finland to avoid double taxation on income and capital taxes, the competent authorities of the Republic of India and the Republic of Finland have agreed to add FINNVERA and Finnish export credits to the list of establishments covered by Article 12, (a) Article 12, paragraph 3. 2) An agreement on tax information – a tax treaty whose scope is limited. The convention does not affect the tax privileges of diplomatic or consular representatives under the general rules of international law or the provisions of specific agreements. In addition, while the competent authority of the Republic of Finland submitted its letter of 15 February 2007, it proposed to the competent authority of the Government of the Republic of India to include finnvera and Finnish export credits in the list of establishments covered in paragraph (ii) (a) 3, paragraph 3 of Article 12 of the agreement, and India`s competent authority forwarded its letter from A.O. No. 501/13/80-FTD-I of 28 August 2007 agreed to this proposal, which constitutes a reciprocal agreement between the competent authorities of the contracting states in this matter, as stipulated in that convention. CONSIDERING that the Government of India and the Government of the Republic of Finland, DESIRE, a convention to avoid double taxation of income NOW, THEREFORE, is agreed as follows 5. Companies of a contracting state whose capital is directly or indirectly held by one or more residents of the other contracting state or whose capital is controlled in whole or in part, must not be subject, in the first state, to a tax or related requirement that is something other or heavier than the tax requirements to which other similar enterprises of that first state are or may be subject. 1. Nationals of a contracting state must not be subject, in the other contracting state, to a tax or requirement that is different or more burdensome than the imposition and related requirements to which nationals of that other state are or may be subject in the same circumstances.
In order to conclude a new agreement to avoid double taxation on income and capital taxes, nothing in this section should be construed as requiring a State party to grant personal allowances, relief and tax reductions to persons who do not have that residence. e. “international traffic”: any transport by boat or aircraft operated by a company, a contracting state, unless the vessel or aircraft is operated only between locations in another contracting state; Finland has entered into a tax treaty with the following countries to avoid double taxation and prevent income and capital tax evasion: 1) The tax treaty between Finland and the former Yugoslavia (SopS 60/1987) applies to international tax situations in which Croatia, Bosnia and Herzegovina, Montenegro, Kosovo or Serbia are counterparties with Finland. For more information, see official statements from the Finnish Ministry of Foreign Affairs of 17.5.1995, SopS 70/2001, SopS 75/2005, SopS 9/2016 and official declarations 18.4.2007, 31.1.2012 and 2.2.16.