This limitation on third-party countries will be a concern, along with the new requirement to demonstrate that tax relief is not one of the principal purposes of the investment, said experts.
Foreign investors entering India via Mauritius are set to face greater scrutiny of their investments, with the two countries inking a protocol to amend their double-taxation avoidance agreement.
“Before the New Millennium, The Bahamas boasted of being a jurisdiction that had no income taxes, corporate or personal, no value-added, inheritance, capital gains, dividend, interest income, or death taxes.