India lowers taxes on overseas borrowingsSeptember 21st, 2012 - 3:48 pm ICT by IANS
New Delhi, Sep 21 (IANS) The government Friday reduced tax on overseas borrowings by domestic companies to five percent from 20 percent so that local companies could easily raise funds abroad.
Finance Minister P. Chidambaram said the reduced tax rate will be applicable to the funds borrowed between July 2012 and June 2015.
This lower rate of taxation will apply to interest paid to a non-resident by an Indian company for money borrowed in foreign currency from a source outside India, either under a loan agreement or by way of long-term infrastructure bonds.
- India cuts tax on overseas borrowings (Lead) - Sep 21, 2012
- Budget allows airlines to access foreign funds (Second Lead) - Mar 16, 2012
- India raises overseas investment limit in government bonds (Roundup) - Jun 25, 2012
- India raises overseas investment limit in government, corporate bonds (Lead) - Jun 25, 2012
- South Korean banks' foreign borrowing growth slows - Apr 18, 2012
- India to set up debt fund to finance infrastructure - Jun 24, 2011
- Making housing affordable: Realty industry needs budget boost (Comment) - Feb 26, 2012
- Realty industry has little to cheer from budget (Comment) - Mar 18, 2012
- Sri Lankan central bank relaxes regulations - Dec 13, 2011
- No impact of rupee slide on banks: SBI chief - May 28, 2012
Tags: , , , , , , , , , , ,