According to recent reports, India's Finance Minister Arun Jaitley has stated that India will need to revise the 1994 income tax treaty with Singapore to take into account capital gains tax provisions included the {News-2016-05-17/T/2- recent protocol} to the tax treaty with Mauritius.
As {News-2016-05-16/T/2- previously reported}, the 2005 protocol to the India-Singapore tax treaty provides for an exemption from taxation on gains from the sale of shares, with the condition that the exempti…