Financial services insights: Tax & regulatory update

In order to achieve consistent high GDP growth and considering the importance of the financial services sector in the Indian economy, the government, over the past couple of years, has endeavoured to address the tax and regulatory issues faced by the industry to make India a more competitive economy and to provide easy access to the foreign capital into the Indian markets. Some of these steps include liberalising the SEBI FPI regulations, encouraging strategic investors to participate in Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs), revising the framework for resolving stressed assets, launching e-assessment procedures to bring more transparency in tax assessments, entering into new tax treaties with those jurisdictions with whom India do not have any tax treaty and amending various tax treaties in line with the BEPS action plans.

Grant Thornton’s Financial services insights will keep various stakeholders in the industry abreast of key developments on tax and regulatory aspects in the financial services sector on a quarterly basis.