09 Mar '13, 3pm

#india #news Singapore investors concerned about India's GAAR

SINGAPORE: Investors in Singapore are concerned over the pending implementation of India's General Anti-Avoidance Rule (GAAR) and its impact on investments there, according to legal and tax executives. They said investors here were seeking more clarity on the GAAR at a seminar last night on the Indian Budget, 2013-14. "While the deferment (of GAAR)...has definitely lifted market sentiment, the ambiguity regarding whether the GAAR framework would override the India-Singapore Double Taxation Avoidance Agreement (DTAA), has left our Singaporean clients in the lurch," said Shwetambari Rao, Partner at the Bangalore -based Krishnamurthy & Co. The investors including MNCs are concerned about the GAAR impacts on the investments, both those already committed and those to be made in the future, said Gagan Malik, Director, International Tax Services at Ernst & Young Solutions LLP in ...

Full article: http://timesofindia.indiatimes.com/business/international...

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