The emergence of the Western European nation as a gateway comes in the backdrop of renegotiation of tax treaties with Mauritius and Singapore almost three years ago and signing of the Indo-France tax treaty, under which Paris has the right to tax capital gains on investments.
About 25 percent of all outstanding futures and options (F&O) positions is being executed through French banks or subsidiaries of global firms based in the country, sources told the paper. Even offshore derivative instruments like participatory notes (P-Notes) and swaps are increasingly being route from there.
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