India to tax capital gains for Singapore investors after amending treaty
- By Reuters |
- Dec 30, 2016
- Last Updated at 17:55 IST
NEW DELHI (Reuters) - India will start imposing capital gains tax on investments from Singapore from April 2017 and withdraw all tax exemptions in two years after the two countries agreed to amend a decade-old treaty, Finance Minister Arun Jaitley said on Friday.
With the amendments, investors based in Singapore will no longer benefit from tax exemptions on capital gains taxes. Changes to the treaty with the Asian financial centre had been widely expected.
(Reporting by Manoj Kumar; Editing by Rafael Nam)
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