India derivatives tax plans could deter foreign investors
Gains on derivatives trading by foreign investors to be taxed at 15%, which could drive them to set up in Singapore or Mauritius
A change in the way derivatives trades and securities transactions are taxed for foreign portfolio investors (FPIs) could hit investment flows into India and provide incentives for FPIs to set up operations in Singapore or Mauritius – which benefit from favourable treaties with India – say market participants.
On July 10, Arun Jaitley, India's new finance minister unveiled his budget for the 2014
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