Investors in India are nervous as it looks like the government aims to go ahead with plans to close more tax loopholes through a new set of General Anti-Avoidance Rules, or GAAR. While the new rules were slated to come into effect in April, many investors and executives had expected the… – Continue reading
Prime Minister Narendra Modi’s government has yet to adopt a view on proposed rules to tighten policy on tax avoidance by foreign investors, a senior finance ministry official said on Monday. The general anti-avoidance rules (GAAR) announced by the previous government had sparked alarm among foreign investors because of provisions… – Continue reading
“A government that robs Peter to pay Paul, can always count on the support of Paul”– George Bernard Shaw. Well, the UPA government certainly did a Peter to multinational companies operating in India by hiking withholding taxes from 10% to a good 25% in the 2013 budget. Who is the… – Continue reading
As the new government gets to work, one key item on the agenda would be the revival of growth. The key to that objective is the revival of the investment climate in India for renewed flow of overseas investments. One aspect that has vitiated the investment climate is the tax… – Continue reading
The Indian economy today is in urgent need of measures to restore growth. A stable, clear and transparent tax regime would go a long way in improving sentiments and investor confidence. Building such a tax regime would require an integrated effort including legislative changes to bring in clarity, operational changes… – Continue reading
The unequivocal mandate given to the Modi led NDA government will allow them to take a long term perspective while making policy decisions. The finance ministry led by Arun Jaitley has close to 15 days left to put together the dream budget and at the same time address ‘inclusive growth’… – Continue reading
Experience from Australia and New Zealand shows that these rules do not give a tax authority a carte blanche to attack tax arrangements that it does not like The Narendra Modi administration’s high-octane economic charge will be widely welcomed but, perhaps tax policy discretion will indeed be the better part… – Continue reading
Government’s recent initiative to allow unlisted companies to list on offshore markets through the depository receipt (DR) mechanism without the requirement of simultaneous listing in India is likely to be a major shot in the arm for many sectors, and also offer exits to private equity players looking to monetize… – Continue reading
During the last financial year, India attracted $5.98 billion in FDI from Singapore, whereas it was $4.85 billion from Mauritius Press Trust of India | New Delhi May 26, 2014 Last Updated at 00:45 IST Singapore has replaced Mauritius as the top source of foreign direct investment o India, accounting… – Continue reading
Mauritius to provide automatic tax info exchange for India Ramgoolam, who was here to attend BJP leader Narendra Modi’s swearing-in as Prime Minister yesterday, also said that Mauritius would not allow anybody to abuse or misuse its jurisdiction for any illicit activities. Seeking to allay apprehensions about Mauritius being used… – Continue reading
NEW DELHI: Foreign Direct Investment inflows from Mauritius have almost halved during April-February period of last fiscal to $4.48 billion, according to the data of the Department of Industrial Policy and Promotion (DIPP). India had received $8.97 billion during April-February 2012-13. According to an expert, investors are apprehensive that they… – Continue reading
New Delhi: Foreign Direct Investment inflows from Mauritius have almost halved during April-February period of last fiscal to USD 4.48 billion, according to the data of the Department of Industrial Policy and Promotion (DIPP). India had received USD 8.97 billion during April-February 2012-13. According to an expert, investors are apprehensive… – Continue reading
Mauritian conglomerate Ireland Blyth IBLP.MZ says uncertainty over new tax rules by key trading partner India has affected its business by putting off investors using the Mauritius financial center to invest in India. Nicolas Maigrot, chief executive of the group which has a wide range of interests in financial services,… – Continue reading
India had received in $8.17 bn during April- January 2012-13 Foreign Direct Investment inflows from Mauritius have almost halved during April-January period of last fiscal to $4.11 billion on fears of impact of GAAR and possible re-negotiation of the tax avoidance treaty. India had received in $8.17 billion during April-… – Continue reading
1. The traditional attitude to tax avoidance is encapsulated in the judgment of Lord Tomlin in the English case of IRC v Duke of Westminster (1936): “Every man is entitled if he can to arrange his affairs so that the tax attaching under the appropriate Acts is less than it… – Continue reading
