Black Money – Domestic and International Efforts

Cabinet clears revised India-Cyprus DTAA

  1. DTAA: Double Taxation Avoidance Agreement
  2. Impact: Will give India the right to tax capital gains on investments routed through Cyprus prospectively from April 1, 2017
  3. Cyprus: Considered a haven for money laundering, round-tripping, and profit-shifting
  4. Context: Strengthening DTAAs- India recently revised DTAA with Mauritius & is in the process of revising its treaty with Singapore
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