Nearly a third of Indian startup founders surveyed are considering moving abroad

Re:Nearly a third of Indian startup founders surveyed are co... by osmianski on Saturday February 01, 2020 @06:50AM (#22210038)

What exactly "startup-friendly tax regime" does Singapore have and India doesn't?

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Re:Nearly a third of Indian startup founders surveyed are co... by kranner on Saturday February 01, 2020 @07:01AM (#22210065)

https://inc42.com/features/the-curse-of-angel-tax-travelkhan...

In addition to incidents like these, corruption is widespread in India. Exports qualify for GST exemption or refund, but in practice refunds are hard to get (at least without a 5% or more bribe).

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Re:Nearly a third of Indian startup founders surveyed are co... by lonelappde on Saturday February 01, 2020 @10:22AM (#22210943)

5% of how much, though? how much more than 5%?

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Re:Nearly a third of Indian startup founders surveyed are co... by kranner on Saturday February 01, 2020 @10:29AM (#22210986)

5% (up to 15%) of the amount to be refunded, which for exporters is all of their GST, which can be up to 28% of the gross value of goods sold.

Just a twitter search for "GST refund bribe" will show a lot of examples.

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Re:Nearly a third of Indian startup founders surveyed are co... by twerwe23423 on Saturday February 01, 2020 @07:18AM (#22210130)

Scary. Tells you about what a state drunk on its power can do; no wonder India is so big on 'digital transactions' (pushed, interestingly, by the likes of USAID).

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Re:Nearly a third of Indian startup founders surveyed are co... by hexagone on Saturday February 01, 2020 @10:39AM (#22211046)

Unnecessarily political comment. That too when the Angel Tax, started by the previous government in 2012 (to curb money laundering) (source: https://m.economictimes.com/news/economy/finance/et-in-the-c...), and was ended by this government in 2019 (source: https://techcrunch.com/2019/08/23/india-angel-tax/).

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Re:Nearly a third of Indian startup founders surveyed are co... by kranner on Saturday February 01, 2020 @11:12AM (#22211220)

Angel Tax was not 'ended'. There are still many conditions under which it is still applicable, governing both who can invest in a startup and how the startup can spend its money. [1]

A bigger issue which is still applicable today is that long term capital gains tax on startups and other unlisted companies is still 28.5%, while for listed stocks it is 10%. [2]

There are some exemptions announced today for foreign investments until 2024 with a lock-in period of 3 years. [3]

[1] https://yourstory.com/2019/08/angel-tax-startups-angel-inves...

[2] https://www.business-standard.com/article/companies/higher-l...

[3] https://www.livemint.com/budget/news/budget-2020-full-text-o...

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Re:Nearly a third of Indian startup founders surveyed are co... by 9nGQluzmnq3M on Saturday February 01, 2020 @08:29AM (#22210390)

I used to run a startup in Singapore, and 0% corporate tax for the first 3 years, 0% capital gains tax, and 0% income tax on local dividends was a pretty sweet deal. (I'm not sure what the current corp tax rates are, but AFAIK the latter two are unchanged.)

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Re:Nearly a third of Indian startup founders surveyed are co... by r_singh on Saturday February 01, 2020 @07:14AM (#22210113)

I think Singapore does not apply capital gains tax for one. Has a simple corporate tax slab of %17 unlike India.

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Re:Nearly a third of Indian startup founders surveyed are co... by r_singh on Saturday February 01, 2020 @09:48AM (#22210748)

Another plus point is being able to keep profits in SGD as opposed to INR (which depreciates by 5% per year).

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