India considers significant tax exemption for Saudi PIF for up to 10 years

Informed sources revealed that India is considering offering significant tax exemption for the Saudi Public Investment Fund for up to 10 years, in addition to simplified exemptions, to boost $100 billion in infrastructure and energy investments.

According to official sources, the proposals under consideration include a tax break for up to 10 years for the Saudi Public Investment Fund and further streamlining procedures to facilitate claiming tax exemptions on dividends, interest, and long-term capital gains on investments in core assets. During Prime Minister Narendra Modi’s recent visit to Riyadh, discussions were held regarding Riyadh’s investment plans in India, amid its intensified investments globally and diversification into sectors other than oil.