Legal, regulatory changes needed for foreign listing of Indian firm

Also, the government will have to first enter into an agreement with the foreign country concerned and then bring changes to the tax treaty

The Securities and Exchange Board of India’s (Sebi) willingness to consider direct listing of Indian companies abroad will require several regulatory changes. 

On the tax front, the Income Tax Act and all Double Tax Avoidance Agreements would need amending. Non-tax laws such as the Sebi Act, Reserve Bank of India Act, and the Foreign Exchange Management Act (Fema) will also need changes.

Experts say tax laws would be the most sensitive matter in this context, to avoid double taxation. Also, a rigid system would give no incentive for an Indian company. “Our tax laws will require a relook to provide for efficient