Investors from Singapore and Cyprus, who have availed an exemption or concessional rate of taxation for investments made before this financial year, may come under scrutiny under a global tax framework that was recently ratified by India. Last month, the Centre ratified the multilateral instrument (MLI) to prevent base erosion and profit shifting (BEPS).
BEPS is the framework by the Organisation for Economic Cooperation and Development (OECD) countries to prevent tax evasion by multinationals, particularly digital companies, which could shift their profit to low tax countries. One of ...
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