Indo-Cyprus tax treaty to boost economic ties: Arjun Meghwal
The Dollar Business Bureau Minister of State for Finance, Arjun Ram Meghwal shared that the long-pending issue of a notified jurisdiction area between India and Cyprus had been revised with the revisions within the double taxation avoidance agreement. The minister of state referred to India and Cyprus’ double tax avoidance agreement that was signed in 2016, while addressing industry heads at the India-Cyprus business session in New Delhi. The agreement paved way for additional investment from Cyprus into India in the areas of manufacturing and other sectors. The World Bank has classified Cyprus as a high-income economy, and was included by the IMF in its list of advanced economies in 2001. The country that has adopted Euro as its official currency, is ...
India, Cyprus sign revised DTAA to ease tax collection
The Dollar Business Bureau India and Cyprus have signed a revised agreement for Avoidance of Double Taxation and the Prevention of Fiscal evasion (DTAA) with regards to taxes on income, together with its Protocol. The agreement was signed on Friday in Nicosia and will replace the prevailing DTAA which was signed between the two countries on June 13, 1994. On behalf of India, Ravi Bangar, High Commissioner of India to Cyprus and on behalf of Cyprus, Harris Georgiades, the Minister of Finance, have signed the protocol. “New DTAA provides for source based taxation of capital gains arising from alienation of shares, instead of residence based taxation provided under the existing DTAA. However, a grandfathering clause has been provided for investments made prior to 1st April, 2017, in respect ...
Foreign Investors need to pay taxes on the money earned: FM
The Dollar Business Bureau India is now a force to be reckoned with and tax incentives are no longer needed to attract FDI into the country. Speaking to the media, the Finance Minister said foreign investors must pay taxes on the money they earn in India. The Government will no longer distribute tax incentive goodies, as India is a strong enough economy. He sounded confident and said there was no serious apprehension of investors shifting their sights to other countries and there will be no depletion in FDI due to the recent developments in the redrawing of the India-Mauritius tax treaty. Mauritius is the biggest foreign tax-source investment countries, that acts as a tax-conduit for foreign investment into India. And investors who channel ...
Mauritius tops the list of FDI sources for India
The Dollar Business Bureau Mauritius has become the largest contributor to foreign direct investment (FDI) in India, bringing in $9.03 billion during the last financial year. The country’s share was around 29% of the total FDI inflow of $30.09 billion received between April 2014 to March 2015, said the latest data released by the Department of Industrial Policy and Promotion (DIPP). Singapore, which was the largest source of FDI to India during 2013-14, came second this time. However, the total FDI worth $6.74 billion from Singapore during last fiscal was the highest ever from that country since 2006-07, the data said. Analysts attribute the increasing foreign investments in India from Mauritius to tax treaty between the two countries. The Double Taxation ...
