India remains an attractive investment destination, even as taxation uncertainties pose a challenge, according to global consultancy Deloitte.
"While India continues to be an attractive investment destination, the dynamic Indian tax framework creates some apprehensions in the investors' perception about the approach on the tax issues related to transactions in India," said a survey of investors, spread across various segments, conducted by Deloitte.
"Around 63 per cent of those questioned consider Singapore to be a favourable jurisdiction for investments into India," said the survey, adding 53 per cent consider uncertainties in the tax position as a significant challenge for doing business in India.
Also, about 80 per cent of the participants indicated there should be rationalisation in India's corporate tax rates in the range of 20 to 30 per cent.
Deloitte said the Indian tax landscape had been in the limelight globally due to the landmark ruling of the Supreme Court in the Vodafone case, followed by retrospective amendments, along with the proposed General Anti-Avoidance Rules ( GAAR).