Perkins Coie (JD Supra India)
India Amends Capital Gains Tax Treaty With Singapore
The Government of India amended its double taxation avoidance agreement (DTAA) with Singapore on December 30, 2016. The amendment allows the Government of India to levy source-based capital gains taxes on foreign direct investment (FDI) from Singapore. Before the amendment, the DTAA only permitted residence-based taxation on capital gains derived from FDI into India. Therefore, the DTAA...
Reserve Bank of India Permits Startups to Raise Up to $3 Million in ECB
The Reserve Bank of India announced new rules permitting startups to raise a maximum of USD 3 million or equivalent through external commercial borrowings (ECB) in a financial year. The decision, effective as of October 27, 2016, allowing ECB access to startups is the latest move by the government of India to incentivize startup growth. The other incentives include a Rs 10,000 crore (USD 1.5...
Indian Government Relaxes Restrictions on Foreign Direct Investment
The Indian government announced on June 20, 2016 new rules for foreign direct investment (FDI), allowing for up to 100% FDI in certain sectors, including defense and civil aviation. The changes also relax the local sourcing requirements for single-brand retail companies with innovative technologies. Indian Prime Minister Narendra Modi said that the new policy would make India “the most open...
India Ratifies International Convention on Nuclear Energy Accident Liability
The government of India ratified the Convention on Supplementary Compensation (CSC) for Nuclear Damage on February 4, 2016, making India a part of the global agreement establishing standards for compensation of victims of nuclear accidents. Prior to the ratification of the CSC, nuclear power equipment manufacturers would be held liable for nuclear accidents, not the plant operators. Consequently,