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:
Jeff Bezos versus Mukesh Ambani isn’t the only fight in India’s trillion-dollar retail space
Synopsis
The ongoing digital transformation of the corner kirana stores, tens of millions of shops catering to 1.3 billion consumers, will matter for everyone from Unilever NV and Procter & Gamble Co. to State Bank of India, the country’s largest lender. It will also be important to Amazon.com Inc. boss Jeff Bezos and Reliance Industries Ltd. Chairman Mukesh Ambani.
The two billionaires are circling each other over an Indian retailer in crisis.
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A bruising battle for supremacy between two of the world’s richest men is hogging the limelight, but the silent changes in India’s retail landscape deserve equal attention.
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A bruising battle for supremacy between two of the world s richest men is hogging the limelight, but the silent changes in India s retail landscape deserve equal attention.
The ongoing digital transformation of the corner kirana stores, tens of millions of shops catering to 1.3 billion consumers, will matter for everyone from Unilever NV and Procter & Gamble Co. to State Bank of India, the country s largest lender. It will also be important to Amazon.com Inc. boss Jeff Bezos and Reliance Industries Ltd. Chairman Mukesh Ambani.
Andy Mukherjee A bruising battle for supremacy between two of the world’s richest men is hogging the limelight, but the silent changes in India’s retail landscape deserve equal attention. The ongoing digital transformation of.
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With a GDP of $2.89 trillion and population of over 1.3 billion, India remains one of the biggest economies in the world with huge growth prospects. Despite the negative effects of the coronavirus crisis which caused the country’s economy to shrink by as much as 15%, India is set to surpass leading economies of the world over the next few years. According to a report by Deloitte, double-digit growth is expected for the Indian economy in 2022 based on the firm’s best-case scenario as the economy begins to come back to normal.
The report said that the top 10 income percentile of the Indian population is starting to spend more on elastic discretionary goods, which could rekindle growth of the private investment sector which had started to shrink following the coronavirus crisis. The report also added that the liquidity measures taken by the Reserve Bank of India (RBI) are also expected to boost the economy.