DTAA between India and Finland – interest paid to FINNERA or Finnish Credit on or after 28 th August 2007 exempted

By Vijay Kumar

Under the provisions of paragraph 3 of Article 12 of the Convention between the Government of the Republic of India and the Government of the Republic of Finland for the avoidance of double taxation with respect to taxes on income and on capital, interest arising in India shall be exempt from Indian tax if the interest is paid to FINNVERA or Finnish Export Credit on or after 28th day of August, 2007.

CBDT Notification No. 5/ 2008 Dated: January 10, 2008