The Ministry of Finance, Government of India, has issued a Press Note dated May 10, 2016 that marks a turning point in India's venture with tax avoidance.
These account for around 70% of total market cap, according to Saigon Securities – but the legal framework also allows for derivatives based on government bonds, currency and commodities and listed shares in future.
The cash flow from tax havens is often risky, especially without adequate technical and tax barriers, say analysts.
The preparation of documents for the negotiations of a DTA with Cambodia will start by yearend, while those for Laos and Myanmar will be calendared next year, Cabreros said.
The fact sheet and the notification, published in German, also talks about Switzerland looking to explore greater access to Indian market