BAML and Morgan Stanley shift Indian P-notes to Europe

Tax changes trigger move out of Mauritius and Singapore

Photo of rupees
Take note: India investments are losing their tax advantages

Bank of America Merrill Lynch (BAML) and Morgan Stanley are using their European subsidiaries to retain favourable tax treatment on offshore derivative instruments that access the Indian stock market, following moves by the Indian authorities last year to end capital gains exemptions with Singapore and Mauritius.

While taking this approach is likely to lead to more regulatory scrutiny from the Indian authorities, it gives the two banks a temporary advantage over their US peers in the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

What gold's rise means for rates, equities

It has been several years since we have seen volatility in gold. An increase in gold volatility can typically be associated with a change in sentiment and investor behavior. The precious metal has surged this year on increased demand for safe haven…

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here