Is this not a deathblow to our Global Bisiness Sector ?

India is introducing a new regime for taxation of off-shore funds choosing to shift their base from Singapore or Mauritius to International Financial Services Centre (IFSC), Gift City, Gandhinagar, Gujurat. Profits and business income earned by such funds from Gift City will be tax exempt.

Didn’t the Ministry of Financial Services, the Ministry of Finance and the IFC see that coming ?

For the inclusion on EU blacklist , it was “much to their surprise” and they felt that the historic partnership with EU is now on the verge of being seriously compromised.

They have been caught napping again !!! This is where their incompetence is leading us !!!

Will our (undisclosed) agreement with India on Agalega be reviewed ?