Manorama Online, 9 Mar 2013Investors in Singapore are concerned over the pending implementation of India's General Anti-Avoidance Rule (GAAR) and its impact on investments there, according to legal and tax executives.
They said investors here were seeking more clarity on the GAAR at a seminar last night on the Indian Budget, 2013-14. "While the deferment (of GAAR)...has definitely lifted market sentiment, the ambiguity regarding whether the GAAR framework would override the India-Singapore Double Taxation Avoidance Agreement (DTAA), has left our Singaporean clients in the lurch," said Shwetambari Rao, Partner at the Bangalore -based Krishnamurthy & Co. Full story
