facebook
twitter
rss
account
search
search
 

Mauritius outlines terms for tax treaty

July 6, 2012 at 11:20 AM   |   Comments

NEW DELHI, July 6 (UPI) -- The island nation of Mauritius indicated Friday it will close loopholes in its tax-avoidance treaty with India but will remain firm on a capital gains clause.

Mauritius is working to fix the treaty to ensure companies don't take advantage of it, The Wall Street Journal reported.

During a meeting with reporters in New Delhi, the foreign minister of Mauritius, Arvin Boolell, indicated that while his country wants to prevent any undue advantage companies may try to take under its tax-avoidance treaty, it was not willing to change the capital gains clause, a key feature of the treaty.

Under the treaty, capital gains can be taxed in Mauritius, the Journal said. But the small 3 percent capital gains tax is one reason Mauritius is an appealing channel for investments into India.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Two dead, more wounded in high school cafeteria shooting in Marysville, Wash. Two dead, more wounded in high school cafeteria shooting in Marysville, Wash.
2
Nurse Nina Pham declared free of Ebola, meets President Obama Nurse Nina Pham declared free of Ebola, meets President Obama
3
U.S. airstrikes succeeding in cutting oil financing for Islamic State U.S. airstrikes succeeding in cutting oil financing for Islamic State
4
Russian currency crashes Russian currency crashes
5
UNESCO: Crimea part of Ukraine, not Russia UNESCO: Crimea part of Ukraine, not Russia
Trending News
Around the Web
x
Feedback