SEBI proposes authorized signatories for FPI tax compliance in India
Business
SEBI is working with India's tax department to help foreign portfolio investors (FPIs) deal with taxes more easily.
Instead of forcing FPIs to pick authorized representatives (AR) who could get stuck with legal trouble, SEBI suggests letting them appoint authorized signatories who just handle paperwork.
Authorized representative role avoided over taxes
Right now, no one really wants the AR job because of possible tax headaches.
This new plan would ease those worries, making it simpler for global funds and their advisers to operate in India.
It's a step toward cutting red tape, and could make India even more attractive for foreign investment.