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Piyush Pandey, TNN | May 18, 2012, 01.20AM IST
MUMBAI: Singapore is fast becoming a magnet and the gateway for Indian outbound investments.
Not only has the island nation posted a 20% jump in attracting India's outbound investment in the
second half of 2011 over the previous year, but the Indian community has also become
the largest foreign business community in Singapore with a four-fold jump in numbers
of registered businesses to over 4,000 since 2001.
The country, which accounted for a fifth of India's $20 billion outbound foreign direct investment
during the second half of 2011, could actually witness a bigger jump next year as it's expected to
outpace tax haven Mauritius, the current favourite, accounting for a fourth of the outbound FDI.
Things could change this year because of a budget proposal to target income tax avoiders through
the imposition of General Anti-Avoidance Rule (GAAR) from April 2013, which will arm tax authorities
with powers to even tax retrospectively.
Full Report:- http://timesofindia.indiatimes.com/...ndian-overseas-flows/articleshow/13230937.cms
MUMBAI: Singapore is fast becoming a magnet and the gateway for Indian outbound investments.
Not only has the island nation posted a 20% jump in attracting India's outbound investment in the
second half of 2011 over the previous year, but the Indian community has also become
the largest foreign business community in Singapore with a four-fold jump in numbers
of registered businesses to over 4,000 since 2001.
The country, which accounted for a fifth of India's $20 billion outbound foreign direct investment
during the second half of 2011, could actually witness a bigger jump next year as it's expected to
outpace tax haven Mauritius, the current favourite, accounting for a fourth of the outbound FDI.
Things could change this year because of a budget proposal to target income tax avoiders through
the imposition of General Anti-Avoidance Rule (GAAR) from April 2013, which will arm tax authorities
with powers to even tax retrospectively.
Full Report:- http://timesofindia.indiatimes.com/...ndian-overseas-flows/articleshow/13230937.cms
