If multilateral institutions are not effective, there is need to rethink the idea of 'most favoured nation' , she has said
The Swiss government has suspended the Most Favoured Nation (MFN) status, which could potentially impact Swiss investments in India and lead to higher taxes on Indian companies operating in the European nation.
Indian firms operating in Switzerland will have to pay a 10-percent tax on dividends and other incomes from January 1, 2025, higher than the earlier rate of 5-percent.
The ruling was given while interpreting the MFN clause in the double taxation avoidance treaties with France, Switzerland and the Netherlands.
Russian banks have been deprived of global interbank facilities, its businesses sanctioned and the overseas assets of the Moscow elite frozen in reprisals for the invasion of Ukraine. Losing MFN status may be the last nail in the coffin of the Russian economy
In the backdrop of Uri attack, India will tomorrow take a relook at the Most Favoured Nation (MFN) status granted to Pakistan including options like withdrawing it or filing a case in WTO against them.
The PPP government had decided in March last year to switch over from positive list of about 1,900 tradable items to a negative list of about 1,206 items, thereby allowing about 5,000 items to be traded between the two countries.
India Inc leaders,accompanying Commerce and Industry Minister Anand Sharma, today felt let down by Pakistan putting on hold a decision to normalise trade with India through a wide market access to Indian goods.
Although currently bilateral trade between India and Pakistan stands at a meagre USD 2.7 billion annually, there is hope that this could double in the next three-four years, reports CNBC-TV18's Rituparna Bhuyan.
Jamaat-ud-Dawah chief Hafiz Muhammad Saeed criticised the Pakistan government's move to grant Most Favoured Nation-status to India, claiming the neighbouring country was a bigger threat than the US.