Diabytes
India-Cyprus tax treaty News
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Mauritius is likely to maintain its edge over Cyprus as preferred source of FDI for India as inflows from the Indian Ocean island nation will get concessional tax treatment till March 2019, say tax experts.
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In another major step in fight against tax evasion, the Cabinet on Wednesday gave its approval to the revised DTAA between India and Cyprus that provides for source-based taxation of capital gains on transfer of shares instead of one based on residence.
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India and Cyprus have "successfully" completed negotiations on the bilateral tax treaty which provides for source-based taxation of capital gains on share sale.
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