The Protocol amending the India-Italy tax treaty of 19 February 1993 was signed on 13 January 2006. The amendments to the tax treaty are as follows:
| - | the withholding tax rate(s) for (i) dividends are reduced to 10% (currently, 15% or 25%), (ii) interest is reduced to 10% (currently, 15%), (iii) royalties is reduced to 10% (currently, 15%), and (iv) technical service fees is reduced to 10% (currently, 15%); |