The UAE lost to Sri Lanka by 15 runs in the Global Qualifier semifinal
cricket9 hours ago
In line with its ongoing efforts to create an ideal investment environment internationally, the UAE, in coordination with the relevant authorities in India, has managed to reach tax exemptions for the UAE's sovereign investments in India applicable to the infrastructure sector for all sovereign investment institutions in the UAE, both federally and locally.
This is part of a set of amendments and investment incentives recently announced by the Indian government to attract and encourage foreign sovereign investment in sectors of importance to India.
Also read: Do NRIs in UAE have to pay India income tax?
Younis Haji Al Khoori, Undersecretary of MoF, highlighted the significance of these initiatives and praised the UAE's close strategic ties with India, while also stressing the importance of strengthening them further.
Al Khoori said, "These exemptions are part of the UAE's unrelenting efforts to further improve economic relations with countries around the world. The move also reflects the success of the recent negotiations between the joint venture teams from the UAE and India. These meetings strengthen bilateral ties and help create investment incentives that support trade exchange and economic activities between the two countries."
In the future, other sectors may be identified for tax exemptions by the Indian government.
These exemptions will come into effect on April 1, 2021, and will be limited to investments made within the period not exceeding March 31, 2024, provided that the investment is maintained for at least three years.
The UAE lost to Sri Lanka by 15 runs in the Global Qualifier semifinal
cricket9 hours ago
Narine's 81 off 39 balls guided Kolkata to 235-6 after they were invited to bat first in Lucknow's final home game
cricket9 hours ago
UAE government has been actively promoting digital transformation initiatives
business10 hours ago
Investment expert advocates long-term approach to build your portfolio
business10 hours ago
Needing a win at Anfield to close the gap on fourth-placed Villa, Tottenham slumped to a fourth successive loss
football10 hours ago
Israeli strike on Lebanon's Mais Al Jabal kills four people from a single family
mena11 hours ago
Shortly after the attack, an Israeli airstrike hit a house in Rafah killing three people and wounding several
world11 hours ago
In a private address, the Republican presidential candidate attacks prosecutors involved in his criminal indictments
americas11 hours ago