$800 Million Asset Manager to Shift Two Funds Out of GIFT City on Tax Issues
· Business · Business Standard
An asset manager overseeing $800 million in capital is preparing to shift two of its funds out of GIFT City due to prevailing tax concerns. The decision follows regulatory and fiscal challenges encountered while operating within the special financial zone. The specific tax complications prompting the relocation have not been publicly detailed. The firm is currently coordinating the transition process to alternative jurisdictions. Further details regarding the timeline for the complete fund transfer are awaited.
Why it matters
The relocation of funds from GIFT City highlights ongoing regulatory and tax concerns for asset managers operating within India's flagship financial hub.
Read the original report — Business Standard
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