India- Cyprus to negotiate tax treaty amendment

After Mauritius, a visiting delegation of Mediterranean island nation Cyprus will negotiate changes in the bilateral tax treaty today to allow New Delhi to tax capital gains. Ahead of India rolling out the General Anti- Avoidance Rules, the Cyprus delegation, led by its high commissioner, will hold daylong talks on amending the double taxation avoidance agreement with the Central Board of Direct Taxes chairman Atulesh Jindal. India will also be re- signing the tax pact with Singapore. Cyprus, the seventh largest foreign direct investment source for India, will press on being taken off the blacklist, the so- called “ notified jurisdiction” for not sharing tax information.

Business Standard New Delhi, 28th June 2016

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RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

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