Mr Motaher Chowdhury

Motaher Chowdhury

Updates

Corporate Tax

New decision on wording of Cyprus-India double tax agreement
Cyprus | 11 July 2014

The Indian Income Tax Appellate Tribunal recently confirmed that the wording of the double tax agreement between Cyprus and India concerning taxing rights in relation to international shipping activities is unambiguous and not open to further interpretation. This meant that the company concerned was subject to tax in Cyprus rather than in India, resulting in considerable savings.

Recent developments in Cyprus-India double tax avoidance agreement
Cyprus | 07 March 2014

In recent months there has been a great deal of discussion and speculation following the Indian government's decision to declare Cyprus a 'notified jurisdiction' for allegedly failing to exchange information effectively with the Indian tax authorities. While the difficulties now appear close to resolution, it is unfortunate that there was not greater consultation by the Indian authorities before the decision was made.