Decision to blacklist Cyprus for not providing tax data will hit developers and realty funds
India's recent decision to blacklist Cyprus for not providing tax data will hit developers and realty funds. Investors who have routed their funds through Cyprus are likely to face a big decline in returns as developers will now be expected to withhold higher tax amounts. So far, these investments were structured around 10% withholding tax, which is likely to jump to 30%.
Source : http://economictimes.indiatimes.com/markets/real-estate/news/decision-to-blacklist-cyprus-for-not-providing-tax-data-will-hit-developers-and-realty-funds/articleshow/29920466.cms
India's recent decision to blacklist Cyprus for not providing tax data will hit developers and realty funds. Investors who have routed their funds through Cyprus are likely to face a big decline in returns as developers will now be expected to withhold higher tax amounts. So far, these investments were structured around 10% withholding tax, which is likely to jump to 30%.
Source : http://economictimes.indiatimes.com/markets/real-estate/news/decision-to-blacklist-cyprus-for-not-providing-tax-data-will-hit-developers-and-realty-funds/articleshow/29920466.cms
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