Budget 2019: Tax reforms and sops must for plane leasing, say analysts

At present, a draft bill has been moved to give primacy to aircraft repossession rules over all other existing laws

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Budget 2019: The government will need to amend regulations, waive duties and alter double tax avoidance treaties with other countries to make aircraft leasing business in India a reality, aviation sector experts have said.

In her maiden Budget on Friday, Finance Minister Nirmala Sitharaman said the government will create a regulatory framework to make India a hub for aircraft leasing and maintenance units for planes.

At present, Ireland serves as a base for top aircraft lessors because of its favourable tax laws. Last year, the Civil Aviation Ministry set up a working group to formulate policies to encourage domestic aircraft leasing industry. The group proposed amendments in rules and tax breaks to...read more 

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