The revamped India-Mauritius tax treaty will apply to only investments in shares and not to other instruments, details of the agreement released by Port Louis showed.
Investors in mutual funds, derivatives and debt will likely escape tax as these instruments aren't mentioned in the reworked double taxation avoidance agreement, said tax experts. The new protocol sets a lower tax rate on interest earned by taxpayers in Mauritius, when compared with India's treaties with other countries. ..
