Technology industry body NASSCOM has lauded the government for getting a formal commitment from Australia to address the issues related to offshore taxation under the Double Taxation Avoidance Agreement (DTAA) in the trade pact signed between the two countries recently.
"I am writing to thank you on behalf of the Indian technology industry for not only raising the issue of offshore taxation under the DTAA but getting a formal commitment from the Australian side to get this approved through their Parliament," NASSCOM President Debjani Ghosh said in a letter addressed to Union Commerce and Industry Minister Piyush Goyal.
"We are confident that this decade-old issue will finally see a resolution due to the efforts put in by you and the team at the Ministry of Commerce and Industry. Your interaction with the technology industry leaders on FTAs in January 2022 and asking for specific inputs were widely appreciated," Ghosh said.
Last week, Piyush Goyal and Australia's Minister for Trade, Tourism and Investment Dan Tehan signed India-Australia Economic Cooperation and Trade Agreement (ECTA), in a Virtual ceremony in presence of Prime Minister Narendra Modi and his Australian counterpart Scott Morrison.
The agreement seeks to further strengthen economic cooperation and remove trade barriers.
NASSCOM president said, "The announcement on liberalised visa regime for skilled talent mobility, dependents and students should also enable greater collaboration between the two countries."
(With inputs from ANI)