• | creates rights, or obligations, which are not ordinarily created between persons dealing at arm’s length; |
• | results, directly or indirectly, in the misuse, or abuse, of the provisions of IT Act; |
• | lacks commercial substance; or |
• | is entered into, or carried out, by means, or in a manner, which are not ordinarily employed for bona fide purposes. |
• | An FPI who has not availed itself of any benefit under a tax treaty and has made investment in accordance with the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019; |
• | An investment made by a non‑resident, directly or indirectly, in an FPI; and |
• | Any arrangement where the aggregate tax benefit to all the parties of the arrangement in the relevant financial year does not exceed INR 30 million. |
∎ | Dividend: Dividend income earned by the Fund will be subject to Indian income‑tax at the specified tax rate of 20%1, under the IT Act. The applicable tax is withheld by the dividend-paying issuer at the time of payment. The Fund being a resident of USA, may claim the benefit of the India‑USA Double Taxation Avoidance Agreement (“DTAA”), which provides a beneficial rate of 15%, subject to the Fund holding at least 10% of the share capital carrying voting power of the Indian company distributing dividend. |
1 | All tax rates mentioned in this Indian Tax Disclosure section are exclusive of the applicable surcharge and health and education cess, unless otherwise specified. |
∎ | Interest: Interest paid to the Fund with respect to debt obligations of Indian issuers will be subject to Indian income tax. A 5% tax rate applies to certain types of interest paid to a nonresident: |
1. | Interest payable to an FPI (until June 30, 2023) with respect to investments made in rupee-denominated bonds (RDBs) of Indian companies and Indian government securities, subject to compliance with certain conditions; and |
2. | Interest payable to a non‑resident with respect to approved foreign currency loans and investment in long-term bonds, including certain RDBs, issued before June 30, 2023. |
In the event, that the aforementioned beneficial rates are not available, then interest on rupee denominated debt is taxed at the rate of 40% for a debt obligation that is not a security and 20% otherwise. Similarly, interest income from a foreign-currency denominated debt obligation is taxed at 20%. These rates would be subject to the beneficial rate under the DTAA, which provides for a rate of 15% for the taxation of interest income. |
Further, tax rate of 4% shall apply on interest income earned with respect to investments made in long-term bonds or RDBs issued on or after April 1, 2020 but before June 30, 2023, which are listed only on a recognized stock exchange in an Indian International Financial Services Centre. |
Tax will be withheld on interest income payable to the Fund, at applicable rates. In certain circumstances, where the Fund does not have a permanent account number (PAN) allotted by the Indian tax authorities or does not furnish prescribed alternate documentation, tax must be withheld at the higher of the applicable tax treaty rate or the rate specified in the IT Act or 20%. |
∎ | Securities Transaction Tax: All transactions entered on a recognized stock exchange in India are subject to a Securities Transaction Tax (“STT”). STT has been introduced under Section 98 of the Finance (No.2) Act, 2004 on transactions relating to sale, purchases and redemption of shares made by purchasers or sellers of Indian securities. The current STT is levied on the transaction value as follows: |
∎ | 0.1% payable by the buyer and 0.1% by the seller on the value of transactions of delivery-based transfer of an equity share in an Indian company entered in a recognized stock exchange; |
∎ | 0.025% on the value of transactions of non‑delivery‑based sale of an equity share in an Indian company, entered in a recognized stock exchange and payable by the seller; |
∎ | 0.05% on the value of transactions of sale of options, entered in a recognized stock exchange and payable by the seller; |
∎ | 0.01% on the value of transactions of sale of futures, entered in a recognized stock exchange and payable by the seller; |
∎ | 0.125% on the value of transactions of sale of options where the option is exercised, entered in a recognized stock exchange and payable by the buyer; and |
∎ | 0.2% on the value of transactions of the sale of unlisted shares by existing shareholders in an initial public offer. |
∎ | Capital Gains: The taxation of capital gains is as follows. Long-term capital gains (i.e., gains on the sale of shares held for more than 12 months) from the sale of equity shares of an Indian company listed on a recognized stock exchange are taxable in India at a rate of 10% provided any applicable STT has been paid, both on acquisition and sale of such shares (subject to certain transactions, to which the provisions of applicability and payment of STT upon acquisition do not apply). The tax on these capital gains is calculated on gains exceeding INR 100,000 (without any indexation and foreign exchange fluctuation benefits). Long term capital gains arising from sale of listed shares, not executed on a recognized stock exchange, will be taxed at a rate of 10%. |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Document Type | dei_DocumentType | 497 |
Document Period End Date | dei_DocumentPeriodEndDate | Aug. 31, 2021 |
Registrant Name | dei_EntityRegistrantName | iShares, Inc. |
Entity Central Index Key | dei_EntityCentralIndexKey | 0000930667 |
Amendment Flag | dei_AmendmentFlag | false |
Document Creation Date | dei_DocumentCreationDate | Feb. 25, 2022 |
Document Effective Date | dei_DocumentEffectiveDate | Feb. 25, 2022 |
Prospectus Date | rr_ProspectusDate | Dec. 30, 2021 |
Entity Inv Company Type | dei_EntityInvCompanyType | N-1A |
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | iShares® iShares, Inc. Supplement dated February 25, 2022 (the “Supplement”) to the Summary Prospectus (the “Summary Prospectus”), Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), each dated December 30, 2021, for the iShares MSCI Emerging Markets Small‑Cap ETF (EEMS) (the “Fund”) The information in this Supplement updates information in, and should be read in conjunction with, the Summary Prospectus, Prospectus and SAI for the Fund. The Fund effected a substantial portion of the transfer of its Indian assets that had previously been held by the Fund’s wholly-owned subsidiary (the “Subsidiary”) located in the Republic of Mauritius (“Mauritius”) to the Fund through on‑exchange transactions in India (the “Transfer”) on February 10, 2022. While the Fund historically carried out its investment strategies by investing all of its assets invested in India through the Subsidiary, future investments will be made in Indian securities directly. The Fund incurred transaction costs from the Transfer. Pursuant to the Transfer, the following changes are made to the Fund’s Prospectus, Summary Prospectus and SAI. All references to the Subsidiary are deleted. Change in the Fund’s “Principal Investment Strategies” The sixth paragraph in the section of the Prospectus and Summary Prospectus entitled “Principal Investment Strategies” is deleted in its entirety and replaced with the following: The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund. Change in the Fund’s “Summary of Principal Risks” The section of the Summary Prospectus and Prospectus entitled “Summary of Principal Risks” is amended to delete “Treaty/Tax Risk” and add the following: Tax Risk. The Fund is subject to tax in India on the purchase and sale of Indian securities, which will reduce the Fund’s returns. For more information regarding the tax implications of investing in Indian securities, please see the section entitled “Indian Tax Disclosure.” If you have any questions, please call 1‑800‑iShares (1‑800‑474‑2737). iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
|
iShares MSCI Emerging Markets Small-Cap ETF | ||
Risk/Return: | rr_RiskReturnAbstract | |
Supplement to Prospectus [Text Block] | rr_SupplementToProspectusTextBlock | iShares® iShares, Inc. Supplement dated February 25, 2022 (the “Supplement”) to the Summary Prospectus (the “Summary Prospectus”), Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), each dated December 30, 2021, for the iShares MSCI Emerging Markets Small‑Cap ETF (EEMS) (the “Fund”) The information in this Supplement updates information in, and should be read in conjunction with, the Summary Prospectus, Prospectus and SAI for the Fund. The Fund effected a substantial portion of the transfer of its Indian assets that had previously been held by the Fund’s wholly-owned subsidiary (the “Subsidiary”) located in the Republic of Mauritius (“Mauritius”) to the Fund through on‑exchange transactions in India (the “Transfer”) on February 10, 2022. While the Fund historically carried out its investment strategies by investing all of its assets invested in India through the Subsidiary, future investments will be made in Indian securities directly. The Fund incurred transaction costs from the Transfer. Pursuant to the Transfer, the following changes are made to the Fund’s Prospectus, Summary Prospectus and SAI. All references to the Subsidiary are deleted. Change in the Fund’s “Principal Investment Strategies” The sixth paragraph in the section of the Prospectus and Summary Prospectus entitled “Principal Investment Strategies” is deleted in its entirety and replaced with the following: The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund. Change in the Fund’s “Summary of Principal Risks” The section of the Summary Prospectus and Prospectus entitled “Summary of Principal Risks” is amended to delete “Treaty/Tax Risk” and add the following: Tax Risk. The Fund is subject to tax in India on the purchase and sale of Indian securities, which will reduce the Fund’s returns. For more information regarding the tax implications of investing in Indian securities, please see the section entitled “Indian Tax Disclosure.” If you have any questions, please call 1‑800‑iShares (1‑800‑474‑2737). iShares® is a registered trademark of BlackRock Fund Advisors and its affiliates.
|
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