The GOI has approved the signing and ratification of the agreement between India and Seychelles for exchange of information with respect to taxes. The agreement will stimulate information exchange between India and Seychelles for tax purposes, which will help curb tax evasion and avoidance.
Information received under the agreement shall be treated as confidential and may be disclosed only to persons or authorities (including courts or administrative bodies) concerned with assessment. The agreement also provides for a Mutual Agreement Procedure for resolving any difference or for agreeing on procedures.
Facts about Seychelles
- The Seychelles consist of an archipelago of about 100 islands in the Indian Ocean northeast of Madagascar.
- The Seychelles were uninhabited when the British East India Company arrived on the archipelago in 1609.
- Almost half of the limited landmass in the country is occupied by national parks and reserves.
- Victoria, the capital city of Seychelles, is the smallest capital in the whole world.
- Seychelles has the smallest population of any independent African state.
- There are three official languages in Seychelles: Creole (a French-based dialect), English and French.
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