Two Agreements Signed With India And Sudan Published In Official Gazette

ANKARA - The agreement between Turkey and India signed on Reciprocal Promotion and Protection of Investments and another one signed between Turkey and Sudan for avoidance of double taxation with respect to taxes on income were published in the official gazette on Wednesday.
According to the agreement between Turkey and India, ''each party shall encourage and create favourable conditions for investors of the other Party to make investments in its territory, and treat such investments on a basis no less favourable than that accorded in similar situations to investments of investors any third country, whichever the most favourable.''
The agreement will remain in force for a period of ten years unless one of the parties want to terminate it by applying in written form one year beforehand.
The agreement was signed in Ankara on September 17, 1998.
The agreement signed with Sudan for avoidance of double taxation, on the other hand says ''this agreement shall apply to taxes on income imposed on behalf of a Contracting State or of its political subdivisions or local authorities, irrespective of the manner in which they are levied.''
The agreement which was signed on August 16, 2001 will be valid for five years as long as one of the sides does not want to terminate it.
Besides the cooperation agreement signed between Turkey and Bulgaria on June 9, 2003 for projects of energy and infrastructure was also published.
Lastly two amendments made to the Montreal Protocol on Substances that Deplete the Ozone Layer and the cooperation agreement signed on 24 October, 1990 between Turkey and Poland in Science, Education and Culture were also published in the Official Gazette the same day.
(Öª-AÖ) 17.09.2003