The protocol to the 1996 income and capital tax treaty between India and Israel was signed on 14 October 2015.

Changes Made

The protocol makes the following changes:

• Replaces paragraph 4 of Article 14 (Capital Gains), so that gains from the alienation of shares, or an interest in a partnership, trust or other entity, deriving more than 50% of their value directly or indirectly from immovabl…