IOR-ARC Economic and Business Conference

The Union Minister of Commerce & Industry Shri Anand Sharma co-chaired the Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) Economic and Business Conference in Port Louis, Mauritius. Following is the Press Communiqué released after the Conference: 1. We, the Ministers of Trade, Commerce and Industry of Member States and Dialogue Partners of the Indian… Read More

Tags: Anand SharmaIndiaIndian OceanIndian Ocean Rim Association for Regional CooperationMauritiusMember statePort LouisSustainable development

Government Approves 1 Proposal of Foreign Direct Investment

Further to para 5 of the Press Release dated May 31, 2013, wherein it was stated that decision of the 2 (Two) proposals will be communicated separately, Government has approved 1 Proposal of Foreign Direct Investment amounting to Rs. 7.00 crore approximately. Following 1 (One) proposal has been approved. Sl. No. Name of the applicant Particulars of the proposal FDI/NRI… Read More

Tags: BusinessFinancial servicesforeign direct investmentGovernmentIndiaInvestingInvestmentMauritius

Foreign company is liable for MAT u/s 115JB

CLR Editorial Notes: The applicant, a Mauritius company, sold shares of Burroughs Wellcome (India) Ltd. The resultant capital gains were not chargeable to tax under the India-Mauritius DTAA. The AAR had to consider whether, as the Applicant had no income chargeable to tax in India, (a) the transfer pricing provisions were applicable to its, (b) section 115JB (MAT) was… Read More

Tags: AARCompanies ActDana CorporationDouble taxationIndiaMauritiusSupreme CourtTimken Companytransfer pricingUnited States

Income Tax Overseas Units

Income Tax Overseas Units have been set up in Indian Missions abroad as part of efforts to unearth black money. Tax Officers at the level of First Secretary are being posted to Income-tax Overseas Units (ITOUs) in Indian Missions abroad to maintain effective coordination and liaison between Indian tax authorities and the tax authorities of… Read More

Tags: CyprusDouble taxationExchange of InformationIncome taxMauritiusMinistry of External AffairsSingaporeUnited States

India – Mauritius Sign MoU on Electoral Cooperation

India™s Model Code of Conduct is a Source of Inspiration, Says Electoral Commissioner of Mauritius India and Mauritius have signed a Memorandum of Understanding (MoU) in New Delhi, for cooperation in the field of election management and administration. The MoU was signed by the Chief Election Commissioner of India, Shri V.S. Sampath and the Electoral… Read More

Tags: Chief Election Commissioner of IndiaElectionElection Commission of IndiaIndiaMauritiusMemorandum of understandingNew DelhiVenezuela

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