INDIA MAURITIUS TREATY IMPACT

The visit to the Indian Ocean island nation marks one of the first bilateral engagements undertaken by Jaishankar following his re-appointment in the third term of Prime Minister Narendra Modi-led government.

Tax experts say the international tax treaty, which Republicans strongly oppose and requires a two-thirds majority in the US Senate to pass, faces significant challenges. Without US ratification, meeting the OECD tax deal's implementation conditions...

The Centre dismissed West Bengal's claim of not being consulted on the Internal Review of the India-Bangladesh Treaty of 1996 on Sharing of the Ganga/Ganges Waters at Farakka. The state government nominated the Chief Engineer for the committee and c...

The issues that need to be ironed out include duties in sectors like electric vehicles, alcoholic beverages and services. General elections in the UK will be held on July 4.

India is inviting heads of state and government from Sri Lanka, Maldives, Mauritius, and the Seychelles to the swearing-in ceremony of the next Narendra Modi government on June 9. The focus is on the western and southern Indian Ocean (IOR), where In...

Ruchira Kamboj, India's Permanent Representative to the United Nations, retired after a 35-year career. She was the first woman diplomat to hold this position and had a distinguished tenure in the Indian Foreign Service.

India has resumed free trade negotiations with trading partners after withdrawing from the Regional Comprehensive Economic Partnership (RCEP) negotiations in 2019. The process has been restarted with the signing of India-Mauritius Comprehensive Econ...

Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets.

India plans to announce its plans to develop a new research station in Antarctica at the 46th Antarctic Treaty Consultative Meeting (ATCM) and the 26th Meeting of the Committee for Environment Protection. The station, Maitri, is expected to be revam...

​ Foreign investors dumped domestic equities worth over Rs 5,200 crore in April so far on concerns over tweaks in India's tax treaty with Mauritius, which would now impose higher scrutiny on investments made here via the island nation.

The share of funds domiciled in Mauritius in the total FPI equity assets under management (AUM) dropped to 5.61% in March 2024 compared with 14.53% five years ago, the data from NSDL showed. Consequently, Mauritius-based funds become the fourth larg...

The clarification follows concerns by tax experts over the agreement opening past investments to scrutiny from tax authorities at the time of exit following the protocol, which was inked on March 7. A key concern expressed by experts is about reopen...

The department said that the Protocol pertaining to the amendment is yet to be ratified and notified under Section 90 of the Income-tax Act, 1961. Until this Protocol comes into force, any queries or concerns regarding the amendments will be address...

India and Mauritius have agreed to a protocol to alter a double taxation avoidance agreement (DTAA) stating that tax relief cannot be for the indirect benefit of residents of another country. As a result, all FPIs will have to examine whether they h...

The new provisions in the treaty include a principle purpose test, which will be used to judge whether tax benefits under the treaty will apply to investments or not, according to the text of the treaty released by India's foreign ministry.

Rajesh Gandhi from Deloitte India explains the implications of including Mauritius in the PPT requirement, affecting investments pre-2017. Uncertainty looms over treaty benefits and potential challenges for entities choosing Mauritius for non-tax re...

​There is another provision like principal purpose test or MLI which further requires that the FPIs or any other investors which are based in Mauritius need to have a commercial rationale or a justification to be organised or to be based in Mauritiu...

Tax experts said a new article has been added to the protocol "Article 27B Entitlement to Benefits". The amended protocol was signed on March 7 and made public now.

The amendment, which is in sync with the ongoing global tax agreement, will discourage existing source-based tax exemptions claimed by the companies and will make it difficult for them to abuse the tax treaty purely for treaty shopping. The Base Ero...