Govt to come out with simplified norms for DRs: Survey
09/07/2014 16:58
The government today said it will come out with simplified norms for Depository Receipts after making necessary amendments in tax regulations, reported PTI. Depository Receipts (DRs) are used by companies to raise capital from overseas investors, as per the media reports. The Centre has accepted the Sahoo panel report which reviewed the Depository Receipts schemes framed in 1993, as per the media reports. "The government has accepted the report and the new scheme suggested by the Committee would be notified at later stage after the necessary tax related amendments are made," says the Economic Survey for 2013-14. The committee suggested that companies (listed or unlisted) should be allowed to issue Depository Receipts against any underlying securities, which may be equity or debt, reported media.
09/07/2014 16:58
The government today said it will come out with simplified norms for Depository Receipts after making necessary amendments in tax regulations, reported PTI. Depository Receipts (DRs) are used by companies to raise capital from overseas investors, as per the media reports. The Centre has accepted the Sahoo panel report which reviewed the Depository Receipts schemes framed in 1993, as per the media reports. "The government has accepted the report and the new scheme suggested by the Committee would be notified at later stage after the necessary tax related amendments are made," says the Economic Survey for 2013-14. The committee suggested that companies (listed or unlisted) should be allowed to issue Depository Receipts against any underlying securities, which may be equity or debt, reported media.
