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Aug 26, 2016
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Cyprus to lose capital gains tax waiver from April 2017
The Cabinet on Wednesday approved a revised Double Taxation Avoidance Agreement (DTAA) between India and Cyprus, which provides for source-based taxation of capital gains on transfer of shares, instead of a residence-based approach. An agreement to this effect was reached in July between the two countries, according to which Cyprus investors’ capital gains on investments made in Indian companies after March 31, 2017, can be taxed here.
Source -
http://indianexpress.com
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