Minerva hosts a seminar on Indian tax

04 November 2011

Minerva recently hosted an Indian tax seminar at the Royal Yacht Hotel in Jersey. Two leading Indian lawyers, Sanjay Sanghvi and Daksha Baxi of Khaitan & Co travelled to Jersey from Mumbai to present on a number of key topics including:

• The implications of the proposed Direct Tax Code regarding:
- Controlled Foreign Company (CFC)
- General Anti Avoidance Rules (GAAR)
- Place of effective management
- NRI 60 day rule
• Cross border merger laws
• Cross border transactions - some recent developments
• India and Mauritius tax treaty

In addition, Geoff Cook provided an Indian market update on behalf of Jersey Finance Limited. The seminar was well attended by local representatives within the local finance industry who focus on the Indian market.

Neel Sahai, Director Minerva Trust & Corporate Services, commented “We were delighted that Sanjay and Daksha were able to visit Jersey and share their knowledge of India’s tax environment. With a number of substantial changes to the Indian tax regime expected to be introduced in April 2012 it is apparent that there is still a considerable lack of clarity in respect of the proposed changes. With the introduction date rapidly approaching we will be monitoring developments closely”.
 

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