India’s tax office is cracking down on tax breaks offered to Irish aircraft lessors, according to The Economic Times. The newspaper says at least three lessors, which it does not name, have been denied tax benefits allowable under an existing treaty between the two countries.

The Indian Revenue Service is relying on the Base Erosion and Profit Shifting (BEPS) Multilateral Instrument, which India and Ireland are parties to. The instrument is a treaty that allows jurisdictions to modify their tax treaties to address multinational tax…

Source: ch aviation
Read more: India starts denying Irish lessors tax breaks – report