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In a recent decision of the Bombay High Court, the availability of the capital gains exemption in India under the India-Mauritius tax treaty was upheld.

India has provisionally notified its treaties with 93 countries (virtually all of its comprehensive tax treaties) as covered tax agreements for the purposes of the MLI.

Two important judgments on tax matters have been pronounced recently by the Supreme Court.

Chile’s tax reform, within its latest and more important updates, incorporated a general anti-avoidance regulation through which it established that the tax obligations can be enforced according to the legal nature of the facts, acts, or business, without attending to their form, denomination or to the defects that could affect them.

Barbara Scampuddu Gian Luca Nieddu The Italian tax authorities have issued a resolution that should help multinationals selling goods and services into Italy, or using the country for storage or distribution.

Draft rules on capital gains exemption for listed shares released

On March 22 2017, the Brazilian tax authorities (RFB) published Solução de Consulta No. 153/2017 (SC 153/2017).

The Egyptian President Abdel Fatah El Sisi issued Presidential Decree No. 155 of 2016 on February 23 2017, ratifying the double tax treaty concluded between Egypt and Kuwait on December 16 2014.

Taxpayers must comply with the rules to qualify for the credit.