Prime Minister Narendra Modi and Iranian President Hassan Rouhani on Saturday signed nine agreements for easing visa norms and boosting cooperation in several sectors.
An agreement on avoidance of double taxation (DTA) and prevention of fiscal evasion linked to income tax was also signed. The agreement aims to eliminate the worry of double taxation between India and Iran and thereby, encourage investments and services.
India and Iran sign an Agreement for the Avoidance of Double Taxation (DTAA) & the Prevention of Fiscal Evasion with respect to taxes on income on 17th February,2018 at New Delhi.— Income Tax India (@IncomeTaxIndia) 17 February 2018
India and Iran kept the focus on Chabahar port project and signed a lease contract for the Shahid Beheshti Port-Phase 1 of Chabahar. The countries also agreed to waive the requirement of a visa for those holding diplomatic passports.
The nine agreements that were signed by PM Modi and the Iranian President are listed below:
- Maritime agreement on Chabahar Port and document on Shahid Beheshti port.
- Double taxation avoidance agreements.
- Memorandum of Understanding (MoU) on the exemption of visa requirements for diplomatic passport holders.
- Exchange of instrument of ratification of an extradition treaty.
- MoU on cooperation in the field of traditional systems of medicine.
- MoU on the establishment of trade.
- MoU on cooperation in the field of agriculture and allied sectors.
- MoU on cooperation in the field of health and medicine.
- Mou on postal co-operation.
President Rouhani said that India and Iran will see development in energy, petroleum and gas sectors, reports NDTV. "Both leaders held a substantive & productive discussion on cooperation in trade & investment, energy, connectivity, defence & security & regional issues," MEA spokesperson Raveesh Kumar tweeted.
Civilizational connect, contemporary context! PM @narendramodi welcomed President of Iran Dr. Rouhani to India. Both leaders held substantive & productive discussion on cooperation in trade & investment, energy, connectivity, defence & security & regional issues. #DustemanIran pic.twitter.com/LICDykC5F6— Raveesh Kumar (@MEAIndia) 17 February 2018