Nepal inks double taxation avoidance agreement with India

Nepal and India on Sunday signed here the Double Taxation Avoidance Agreement (DTAA). The DTAA, which is expected to bring about economic improvements and investment opportunities in both countries, was signed by Nepali Finance Minster Barshaman Pun and his Indian counterpart Pranab Mukherjee in the capital Kathmandu. The DTAA will now replace the old agreement signed in 1987. During the visit of Nepali Prime Minister Baburam Bhattarai to India on October 20-23, the two countries had signed a bilateral investment promotion and protection agreement in a bid to attract more Indian investment in Nepal. Mukherjee arrived here Sunday morning for a one-day visit to Nepal.