Zee Media Bureau
New Delhi: After successfully amending the tax-treaty with Mauritius, India is mulling over a plan to amend the same in case of Singapore which is also considered a prominent source of round-tripping and revenue loss. The talks between the two countries may begin anytime soon to amend the the double taxation avoidance agreement (DTAA).
As per media sources, the the Limitation of Benefit is much higher in the case of Singapore, a threshold of Rs 50 lakh as against Rs 27 lakh in the case of Mauritius.
Singapore accounts for over 16 percent of cumulative inflows till date. It is the second-biggest source for foreign direct investments (FDI) into India after Mauritius.