The Central Board of Direct Taxes (CBDT) on May 26 issued draft rules providing more flexibility for valuation of equity investments made in unlisted start-ups
Questions arise why countries like Singapore, Mauritius and the United Arab Emirates, which account for a majority of inbound foreign direct investment, are missing from CBDT’s notification
The proposed changes in angel tax policies could result in global investors pressuring start-up founders to move their company headquarters overseas, which is unlikely to benefit any stakeholder in the contemporary ecosystem