Based on an announcement of the Indian Ministry of Finance dated 16th December 2016, Cyprus has been retrospectively removed from the list of” Notified Jurisdictions” with effect as from 1st November 2013.
This was an expected and very welcoming development since any cases involving Cyprus companies that came under detailed examination from the Indian Tax Authorities as a result of the notification, will now be dropped as if Cyprus has never been included on the Indian list of “Notified Jurisdictions”.
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