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FPIs from Mauritius to face greater scrutiny after tax treaty revision

Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development s proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.

india-mauritius tax treaty: Can taxation treaty amendment lead to sizable reduction in flows from Mauritius? Deloitte's Rajesh Gandhi explains

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 reasons.

Paxlovid COVID Treatment Most Beneficial for Unvaccinated People with Risk Factors. Others May Not Need It

A recent study suggests that Paxlovid is ineffective at treating symptoms in people with mild illness or those who have been fully vaccinated. It is still a lifesaving medication in vulnerable groups

Mauritius issue begins to haunt foreign investors as FPIs pull out nearly $1 billion from Indian stocks

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 have enough commercial rationale to be based in Mauritius when the tax scrutiny happens.

Krishna vs Delhi Police & Ors on 4 April, 2024