The protocol to the 1996 income and capital tax treaty between India and Israel was signed on 14 October 2015.
Changes Made
The protocol makes the following changes:
- Replaces paragraph 4 of Article 14 (Capital Gains), so that gains from the alienation of shares, or an interest in a partnership, trust or other entity, deriving more than 50% of their value directly or indirectly from immovable property situated in a Contracting State may be taxed in that State;
- Removes paragraphs 3 and 4 of…