UTI Launches Singapore-Listed India ETF to Ease Foreign Tax Burden
UTI Asset Management is launching the UTI India Nifty 50 Index ETF VCC on Singapore's exchange on November 12. This ETF invests in an India-listed ETF rather than direct shares, leveraging the India-Singapore tax treaty to avoid capital gains taxes of 12.5% on long-term and 20% on short-term holdings. The move aims to attract foreign investors by offering a more tax-efficient way to access Indian stocks amid high levies and market challenges.
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