|
Headline: India funds – Tax issue raises heat and dust Source: Euromoney Date: May 2000 Author: Kala Rao The beautiful island of Mauritius in the Indian Ocean is today a key outpost for a liberalizing India, thanks to an obscure tax treaty. Nearly half India’s foreign portfolio investment, currently around $ 11.7 billion, is routed through the island and so is a large chunk of foreign direct investment. But in early April this arrangement was put in jeopardy when Indian tax officials swooped on five foreign funds based in Mauritius demanding taxes owed by them, sparking a market collapse and possibly the worst standoff to date between foreign investors and the Indian government. |
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
