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: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: form 3cd :: VAT Audit :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: empanelment
 
 
General »
 Companies should invest in upgradation of tax technology
 Top House tax writer suggests measures to mitigate the impact of the border tax
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court

Resolve Indo-Mauritius tax issues to boost sentiments: FSC
July, 08th 2014

Seeking to dispel concerns about Mauritius being used for round-tripping of Indian money, the island nation's financial sector watchdog has sought a quick resolution of tax related issues between the two countries.

Indian-origin Rajeshsharma Ramloll, who took charge as Chairperson of Financial Services Commission (FSC) last month, said that a quick resolution of issues related to Indo- Mauritius tax treaty would not only benefit the two nations but also boost investor confidence and ensure certainty.

Amid apprehensions in India that Mauritius is being used for money laundering activities, proposed revisions to the bilateral tax treaty has been hanging fire for a long time.

"The issues relating to the Indo-Mauritius tax treaty need to be resolved quickly. A quick resolution will not only benefit both countries, but also ensure the certainty, clarity and predictability and boost investor confidence... That are much required for both countries," Ramloll told PTI.

Stressing that Mauritius has taken many steps to address India's concerns, Ramloll said the island nation is an economical as well as an efficient route for making investments into India.

He said that Mauritius provides stability, predictability and security for investors besides value added services.

"For this reason, I believe that companies using Mauritius to invest in India do not do so only because of the DTAC (Double Taxation Avoidance Convention) but because Mauritius is a respectable and competitive International Financial Centre providing total packaged financial services," Ramloll said.

Set up in 2001, FSC is the integrated regulator for all non-banking financial services and global business sectors in Mauritius, which has been a major route for foreign investments coming into India.

Foreign Direct Investment (FDI) equity inflows from Mauritius to India touched $78.525 billion during April 2000-March 2014 period.

Besides DTAC, both nations have Bilateral Investment Promotion and Protection Agreement. India has been the largest exporter of goods and services to Mauritius since 2007.

Elaborating on measures in place to address the concerns, he said that more stringent licensing conditions have been put in place to ensure that Indian sourced funds are not re- invested in India through Mauritius to prevent round tripping.

For better exchange of information between the two nations, an Indian Revenue Department officer has been posted at the High Commission in Port Louis, he added.

During his visit here in May, Indian-origin Prime Minister Navin Ramgoolam had said the island nation has decided to provide automatic exchange of tax related information with India.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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