News

India finally ends Capital Gains Tax loophole with Mauritius

Finally, after many years of discussions, India has decided to change its double-taxation treaty (DTT) laws with the Republic of Mauritius.


Mauritius PM refutes all money laundering allegations

On Tuesday the Prime Minister released a statement confirming that no money laundering is taking place through his jurisdiction, and they are providing India all the information sought.


India requests Switzerlands assistance to help combat tax evasion

India has been offered legal support from Switzerland regarding the case of a high-profiled married couple that is been suspected of evading taxes while hiding money within a HSBC bank account in Geneva.


Mauritius seeking to become "The Dubai” of Africa

The island’s Finance Minister wishes to boost growth in Mauritius and qualify it as a high-income state by the year 2020, following pressure to shift from its current “tax haven” economy status.


India and the Seychelles sign automatic exchange of information agreement

Last week, the signing and ratification of an agreement between India and the Seychelles for exchanging information regarding taxes has been approved by the Union Cabinet, a crucial factor for enabling the government to fight "black money."


China & India named the largest shareholders of a new bank.

According to the delegates of the AIIB founders meeting, China will likely have a 25-30% share in the Asian Infrastructure Investment Bank (AIIB), and India probably will be the second large shareholder.


INDIA: Information on foreign depositors' burden to MAT

Expert analysis is now available with regards to the Indian government's policy on charging minimum alternate tax (MAT) to foreign portfolio investors' book profits. Established investors have also been receiving surprising demands for MAT, making the government clarify the regulations in this year's…


India allows offshore amnesty before introducing severe penalties

The federal government in India has scheduled a bill to tax undisclosed foreign income and assets of citizens at 30%, with fines & prison sentences for disobedience.


RBI plans to protect microfinance borrowers

The Reserve Bank of India will start to accept applications for setting small bank payments, aimed to cater to small businesses and low income households, by the end of this month after putting in place regulations to allow this avenue of finance. Governor Raghuram Rajan revealed his plans at a NABARD function in Mumbai while addressing micro-financiers.