Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

CYPRUS AND INDIA TAX TREATY NEGOTIATIONS FINALISED

CYPRUS AND INDIA TAX TREATY NEGOTIATIONS FINALISED

On 29 June 2016 the negotiations for a double tax agreement between Cyprus and India were successfully concluded in New Delhi, for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion pertaining to taxes on income between the two countries, as confirmed by the Finance Ministry, with Cyprus accepting the proposed changes regarding capital gains and taxation, as set by the Indian government and the agreement is expected to be signed over the next couple of months.

All investments undertaken prior to April 1, 2017 will be grandfathered as confirmed by the Cyprus Ministry of Finance, “The agreement reached provides for source-based taxation for gains from the alienation of shares. Investments undertaken prior to April 1, 2017 are grandfathered with the view that taxation of disposal of such shares at any future date remains with the contracting state of residence of the seller.”  Investments further to this date, with view to taxation and disposal of shares, will remain with the contracting state of residence of the seller.

This will have important implications for Cyprus, with Indian Authorities confirming that they will retrospectively revoke Cyprus’ classification in the ‘Notified jurisdictional Area’, as from 1 November 2013.

The agreement is set to further enhance business, trade, and political and economic links between the two countries, with further cooperation agreements being expected in key industry sectors such as agriculture, defence, energy and renewables.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post