Will sort out India-Mauritius DTAA woes soon: Mauritius FM
The General Anti-Avoidance Rules (GAAR) are of no use to India, and may work against the country by hurting foreign inflows is the word coming in from Vishnu Lutchmeenaraidoo, the Finance Minister of Mauritius, reports Money Control.
He told CNBC-TV18 that lower taxation is the need of the hour for India. He said that while Mauritius may have gotten a bad name because of a few rotten tomatoes, the country has put in place a stronger anti-black money laws and a mechanism to stop round-tripping to India. All these would play a role when India and Mauritius renegotiate their Double Tax Avoidance Agreement (DTAA) later this month.
Negotiations on India-Mauritius DTAA are to happen on June 29. He said they will submit a new protocol for that, which will have issues related to capital gains with respect to DTAA.