Both India and Spain have signed a protocol making amendments in the existing Double Taxation Avoidance Agreement (DTAA) which would enable both the countries to have better exchange of information related to taxes and in turn help keep a check on tax evasion. At the same time, India is on the verge to revise the tax avoidance pacts with over 80 countries. I think this would certainly reduce the tax evasion to certain extent, although there could still be certain loopholes existing in the system.
