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Foreign FIs halt plans to set up investment firms within IFSCs

Foreign FIs halt plans to set up investment firms within IFSCs SECTIONS Share Synopsis A European fund that was looking to set up a base in India via IFSC stumbled into a roadblock after its legal advisors pointed out that India doesn’t have trade treaties in place with several counties. Agencies The entity is now setting up an India-focused fund with a pooling vehicle being set up in Luxemburg, a person with direct knowledge of the matter told ET. Several foreign financial institutions looking to set up investment entities in Indian International Financial Services Centres (IFSCs) have hit the pause button pending negotiations of India’s terminated bilateral trade agreements with 58 countries even as Indian funds are exploring opportunities in these centres.

Execs, HNIs stuck in India may face tax, regulatory troubles

Execs, HNIs stuck in India may face tax, regulatory troubles SECTIONS Share Synopsis Many executives on global assignments had moved back to India during the second wave of the pandemic but are now unable to return. Getty Images Several Indian employees on global assignments, expats and high net-worth individuals (HNIs) who are stuck in the country amid the pandemic are likely to face tax and other regulatory problems this year, tax experts have said. Indian tax authorities have not issued fresh guidelines for FY21-22 on people who have had to stay in the country for extended period due to Covid-19 disruptions.

Tax ruling: PEs, VCs seek advice on impact on past investments

›Tax ruling: PE, VC funds rush to tax experts to assess indirect tax impact on their past investment Tax ruling: PE, VC funds rush to tax experts to assess indirect tax impact on their past investment SECTIONS Tax ruling: PE, VC funds rush to tax experts to assess indirect tax impact on their past investmentBy Share Synopsis ET had first reported on July 6 that a tax tribunal has held that indirect taxes are applicable on expenses incurred by venture capital, private equity and mutual fund firms, even under the trust structure. This means expenses such as ‘carry fees’, legal fees and salaries incurred by a fund that is held in a trust structure could face indirect tax.

The taxing issue of making the tech giants pay their due - The Hindu BusinessLine

The taxing issue of making the tech giants pay their due - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

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