Agreement With Luxembourg To Avoid Double Taxation Approved

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Feb 21 gave its approval for the double taxation avoidance pact with the Grand Duchy of Luxembourg. The pact will stimulate the flow of capital, technology and personnel from India to Luxembourg and vice-versa, an official spokesperson said after the CCEA meeting. In April last year, both India and Luxembourg had agreed on the text of the proposed pact. It is hoped to benefit the manufacturing and airline companies of Luxembourg having linkages with India.