At present, direct equity investments from the UAE stand just under $20 billion, with nearly $3 billion invested in the last fiscal itself
An investment pact between the Union Cabinet and the United Arab Emirates (UAE) was agreed on Thursday. This treaty is expected to further increase bilateral economic involvement in a number of areas, including manufacturing and foreign direct investment (FDI).
The treaty to protect biodiversity in waters outside national boundaries, known as the high seas, covering nearly half of earths surface, had been under discussion for more than 20 years as efforts to reach an agreement had repeatedly stalled.
Through CEPA, India is seeking to create job opportunities through easier work visas for its IT professionals while Canada, a major producer of pulses, is seeking to increase its agricultural exports to India.
The transition mechanism whereby the tax is slowly raised over three years is a measured one. It is a smooth transition, says Dinesh Kanabar, CEO, Dhruva Advisors.
Indian and Mauritian officials will hold talks starting tomorrow on proposed amendments to their bilateral tax treaty.
Following a ruling by the AAR, the revenue department has sent notices to 68 foreign institutional investors (FIIs) for payment of dues totalling Rs 602.83 crore towards Minimum Alternate Tax (MAT).
In what would come as some relief to FPIs caught in the MAT row, the CBDT chairperson has said that the tax-collecting authority will settle claims of those seeking relief through a tax-treaty benefit within a month of receiving a notice.
Cameron has promised that, if he wins a May election, he would renegotiate Britain's relationship with Europe on issues such as immigration and then hold a referendum by 2017.
Whoever coined the phrase Incredible India would have hardly expected it to extend to tax policy!
India and Mauritius will meet next month in the capital to review the bilateral Double Taxation Avoidance Convention (DTAC) which seeks to prevent misuse of the provisions of the near three-decade old treaty.
Dinesh Kanabar, deputy chief executive and chairman, tax, KPMG, tells CNBC-TV18 that the finance ministry‘s proposal will ensure a degree of certainty
The market had a volatile session today. There was a slight pull back after clarifications from the finance ministry on P-notes issue. Nifty is 35 point up and close to 5200 mark.