Revised tax treaty with Singapore takes effect

While Mauritius was the single biggest source of foreign direct investment into India in 2014-15, accounting for about 24 per cent of USD 24.7 billion FDI, Singapore accounted for 21 per cent.

The taxation treaties with these nations is said to have been misused by many Indian and multinational companies to avoid paying tax or to route illicit funds.

From Agencies, Featured image courtesy companyincorporationitaly