India notifies revised tax treaty with Mauritius: Reports
16/08/2016 00:07
The India Government has said that it has notified the revised tax treaty with Mauritius under which India will impose capital gains tax on investments routed through the island nation from April 1 next year in a bid to curb tax evasion. As per reports, the protocol amending the agreement between India and Mauritius, signed on August 24, 1982 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains and for the encouragement of mutual trade and investment, was signed at Mauritius on May 10, 2016. As per reports, India and Mauritius had signed the revised Double Taxation Avoidance Convention (DTAC) after prolonged negotiations at Port Louis. Under the amended treaty with Mauritius, for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate. Full rate will apply from April 1, 2019.
16/08/2016 00:07
