India Notifies Amended Tax Treaty With Singapore

Posted on:24 Mar 2017 09:32:15
India Notifies Amended Tax Treaty With Singapore
24 March 2017 Current Affairs: The Government of India has officially notified the third Protocol amending India Singapore Double Taxation Avoidance Agreement (DTAA) on March 23, 2017.

The third DTAA will come into force from April 1, 2017. 

The India Singapore DTAA will provide source based taxation of capital gains arising on sale of shares in a company. 

This will curb revenue loss, prevent double non taxation and streamline the flow of investments. 

It would facilitate relieving of economic double taxation in transfer pricing cases.

Capital gains on shares during the period 1st April, 2017 to 31st March, 2019 will be taxed in source country at half of normal tax rate.

 It also inserts Article 9(2) in the DTAA which would facilitate relieving of economic double taxation in transfer pricing cases. 
The Government of India has officially notified the third Protocol amending India Singapore Double Taxation Avoidance Agreement (DTAA) on March 23, 2017.

The third DTAA will come into force from April 1, 2017. 

The India Singapore DTAA will provide source based taxation of capital gains arising on sale of shares in a company. 

This will curb revenue loss, prevent double non taxation and streamline the flow of investments. 

It would facilitate relieving of economic double taxation in transfer pricing cases.

Capital gains on shares during the period 1st April, 2017 to 31st March, 2019 will be taxed in source country at half of normal tax rate.

 It also inserts Article 9(2) in the DTAA which would facilitate relieving of economic double taxation in transfer pricing cases. 

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