Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: VAT RATES :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
Direct Tax »
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30
 Cash trove tax drive dilemma
  CBDT halves Income Tax refunds issue timeline to 15 days for this fiscal
 CBDT signs four unilateral advance pricing agreements

India blames Mauritius for delay in revising dual tax avoidance treaty
May, 05th 2012

The Government has blamed Mauritius for not co-operating in India's effort to prevent the misuse of the Double Taxation Avoidance Convention (DTAC).

Over 39 per cent of the total foreign direct investment inflows into the country have come through Mauritius from the April 2000 to February 2012 period.

Mr S.S. Palanimanikam, the Minister of State for Finance, informed the Lok Sabha in a written reply, A joint working group comprising members from the Government of India and the Government of Mauritius was constituted in 2006 to inter-alia, put in place adequate safeguards to prevent misuse of the India-Mauritius DTAC. Seven rounds of talks have taken place so far. There was unwillingness on the part of Mauritius to co-operate in addressing the problem.

Consistent efforts are being made by the Indian Government to find mutually acceptable solutions for addressing India's concerns. The next round of joint working group meeting is yet to be scheduled, he added.

India has proposed to review the DTAC, with a view to incorporating appropriate amendments for prevention of treaty abuse. Once completed and ratified, this will strengthen the mechanism for exchange of information on tax matters between the two countries.

Although Mauritius is seen as a tax haven, the Finance Ministry said it is unable to give a figure for the revenue loss on account of tax exemption granted on investments routed through Mauritius.

Mr Palanimanikam said that it was not possible as it depended on factors like sale and purchase price, cost inflation, cost of transfer, the set-off loss suffered in one transfer against gains in the other and the carried forward losses of earlier years.

The exercise can be undertaken only if the income tax returns containing all relevant details are filed by every alienator of the asset.

Since the tax on capital gains for Mauritius based entities is exempt, a large number of them do not file the returns unless they have other streams of income as well. Hence no reliable assessment can be made, the Minister disclosed.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions