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    Commerce Ministry to Confirm Tax Breaks for SEZs

    Jan. 4 – India’s Commerce Ministry will consult with the Finance Ministry to confirm the tax breaks available to special economic zones (SEZs) reports The Economic Times. This is to clarify the security of existing SEZ tax breaks for developers despite the draft of the direct taxes code proposing to cut down on tax benefits[…..]

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    India Raises Export Duties on Iron Ore by 5 Percent

    Dec. 29 – In an attempt to curb exports and feed growing domestic demand for iron ore, the Indian government has increased the export duty on iron ore by 5 percent. According the Indian Finance Ministry, the government has raised export duty on iron ore lumps to 10 percent from 5 percent and on iron[…..]

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    Indian Government Scraps Royalty Limits

    Dec. 28 – In part of its ongoing effort to liberalize cross border trade and promote technology transfers, the Indian government in November eliminated prescribed threshold limits for royalty payments. Previously, Indian companies were permitted to pay royalties under the automatic route without specific prior approval of the regulatory body if they qualified under the[…..]

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    P.M.’s Advisory Committee Wants One Rate Each for Goods, Services Under New GST

    Dec. 21 – The Indian Prime Minister’s Economic Advisory Committee favors a single tax rate each for goods and services or one common rate for both under the proposed goods and services tax (GST), according to the committee’s chairman. “The Centre could follow the pattern in which there is only one rate for goods and[…..]

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    Reserve Bank of India Modifies Commercial Borrowing Policy

    Dec. 14 – The Reserve Bank of India has modified its external commercial borrowing (ECB) policy; the changes will take effect from January 1, 2010. Loan agreements signed on or after this date will attract an all-in-cost ceiling as shown in the chart. Eligible borrowers using ECB after December 21, 2009, where the loan agreement[…..]

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    Foreign-Owned Indian Assets May Be Excluded from Capital Gains Tax

    Dec. 9 – The Federation of Indian Chambers of Commerce and Industry has suggested that transactions in respect of Indian assets of foreign companies are to be excluded from capital gains tax. In submissions to Revenue Secretary P.V. Bhide on Tuesday, the FICCI president, Harsh Pati Singhania, suggested that certain transactions of foreign companies in[…..]

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    Report: No Client Should Exceed 10 Percent of Audit Firm Revenue

    Nov. 30 – A corporate governance committee established by the Indian Industry (CII) said in a report that no corporate client or group should comprise more than 10 percent of an audit firm’s revenues. The recommendations are part of government efforts to prevent conflict of interest scenarios with the 10 percent limit applicable to earnings[…..]

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    United States is Largest Equities Investor in India

    Nov. 26 – The United States is now India’s largest equity market investor with a net investment worth Rs 213,450,000,000 as of November 10. This represents a major shift for the United States when two years ago it was not even part of the top ten investors in the Indian stock market. Luxembourg and France[…..]

Showing 8 of 512 articles