INDIAN GAAR DEFERRED

摘要

The Indian government has delayed the introduction of a General Anti-Avoidance Rule (GAAR), which had been scheduled to be implemented from April 2014. The GAAR, which is aimed at companies and investors routing money through tax havens such as Mauritius, will now come into effect from 1 April 2016. Finance minister Chidambaram Palaniappan stated that the GAAR would not apply to foreign funds that were not taking tax benefits from India's various tax treaties with other nations. The rules would also not apply to non-resident Indians running foreign funds. Chidambaram also said officials from India and Mauritius would meet by March to review the provisos of a bilateral tax treaty, signed in 1982.