Cabinet nod to India-Bangladesh trade remedies MoU, pact to mutually recognise CA qualification between India, ANZ

The Union Cabinet on Tuesday gave its ex post facto approval to the amendments to the Finance Bill, 2021 that aim to generate timely revenue for the government and provide equity and inclusiveness to taxpayers. The Cabinet also gave its nod to a Memorandum of Understanding between India and Bangladesh- signed on March 27- to setup a framework of cooperation in the area of trade remedial measures and discourage unfair trade practices.

“The primary objective of the MoU is to promote cooperation between the two countries in the area of Trade Remedies, covering the broad activities related to exchange of information, undertaking capacity building activities and activities in accordance with various provisions of World Trade Organization in the area of anti-dumping, countervailing and safeguard measures in bilateral trade between India and Bangladesh,” the government said in a statement.

The Cabinet also approved a Mutual Recognition Agreement between the Institute of Chartered Accountants of India (ICAI) and Chartered Accountants Australia and New Zealand, that would result in greater employment opportunities for Indian CAs and also greater remittances back to India.

“The MoU provides for mutual recognition of qualification of members of other body, who have achieved membership by completing the examination, professional program and practical experience membership requirements of the two parties,” the government said.

The ICAI and CA ANZ aim to establish a mutual co-operation framework for the advancement of accounting knowledge, professional and intellectual development across the three countries.


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