Update - Protocol to the Tax Treaty between India and Israel

The protocol to the 1996 income and capital tax treaty between India and Israel was signed on 14 October 2015.

Changes Made

The protocol makes the following changes:

• Replaces paragraph 4 of Article 14 (Capital Gains), so that gains from the alienation of shares, or an interest in a partnership, trust or other entity, deriving more than 50% of their value directly or indirectly from immovable property situated in a Contracting State may be taxed in that State;
• Removes paragraphs 3 and 4 of…