Mar 11 2021, 4:11 PM
March 10 2021, 5:19 PM
March 11 2021, 4:11 PM
Singapore-based investment companies whoâve invested in Indian entities prior to 2017 stand to benefit from a recent order by the Authority for Advance Ruling.
Singapore-based investment companies whoâve invested in Indian entities prior to 2017 stand to benefit from a recent order by the Authority for Advance Ruling.
Capital gains arising to a Singapore company from transfer of shares in an Indian entity will not be taxed domestically, the authority has ruled. Such a transaction will only be taxed in Singapore as per the double tax avoidance agreement, it has held.
To recall, many multinational entities invested in India through the Singapore route to take advantage of the beneficial capital gains provisions under the 1994 DTAA. In 2016, the government curtailed the benefits under the Singapore tax treaty to say: