The government of Cyprus has said it will hold talks with India?s income tax department this month to help remove the tag of a tax-non-cooperating jurisdiction that New Delhi attached to the nation last week, subjecting all payments from India to that country a 30% withholding tax, reports fe Bureau in
New Delhi. On November 1, the I-T department had notified Cyprus as a jurisdiction that does not allow effective exchange of tax information. Cyprus described the Indian dec-ision as unilateral and added it was important to clarify that the double tax treaty between the two countries has not been terminated.
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