Budget Day Input Reinsurance companies Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India

2024-07-23 04:26:19 pm | Source: BDO India

Budget Day Input Reinsurance companies Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India

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Below the Budget Day Input Reinsurance companies By Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India

“The FM has proposed a reduction in tax rates for foreign companies operating in India from 40% to 35%. This is a much-awaited change for the reinsurance companies operating through a branch office in India since 2017. The proposed change may not provide a level-playing field to the reinsurance branches with the domestic insurance companies (which continue to be taxed at a much lower rate) but will surely pave the path towards rationalising the tax rates for foreign companies operating in India.”

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Budget Day Input Reinsurance companies Manoj Purohit, Partner & Leader, Financial Services Tax, Tax & Regulatory Services, BDO India

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