evidence: Countries which are regarded as tax havens have a very high percentage of routed funds, with Mauritius, Singapore and Cyprus having a share of over 90 percent. This means that more than 90 percent of investments from these countries are basically investments from some other country, but are routed through there. [...] NB: In 2016, the Indian government amended its tax treaty with Mauritius, Singapore and Cyprus. After these amendments, the preferential tax benefits were removed partially starting in the fiscal year of 2017, and will be removed completely starting fiscal year 2019.