Headlines
Centre assures foreign investors on MAT concerns
New Delhi, April 22 (IANS) The central government on
Wednesday tried to assure foreign investors on retrospective tax but
asked them to wait for the court verdict for relief on the past minimum
alternate tax (MAT).
Addressing the foreign investors, Minister
of State for Finance Jayant Sinha assured them the BJP government was
being responsive.
The relief in the case of past tax claims lies in the courts, he told a news channel.
Foreign investors were troubled when they received MAT notices since last year on their long term capital gains tax.
Sinha assured the foreign investors of the central government's stable tax policy.
The
issue cropped up when the Authority for Advanced Rulings held that MAT
should be levied on foreign institutional investors. The matter has gone
to the apex court and the court's decision is awaited.
Now
foreign institutional investors coming through countries with whom India
has double tax avoidance agreements are exempt from the MAT.