SUBSCRIBERS

Foreign investors alarmed by India tax move

Country is seeking to tax past untaxed gains; clarification in 2015 budget has not resolved issue

Published Thu, Apr 2, 2015 · 09:50 PM
Share this article.

Hong Kong

US and European investor groups have called for the Indian government to urgently clarify its tax regime for foreigners, following surprise attempts by tax inspectors to claw back money they say is owed on years of previously untaxed gains.

International funds and banks could face a bill of as much as US$8 billion, said tax experts, just as many foreign investors are poised to pour money into India following the election of Prime Minister Narendra Modi, who has pledged to create a more business-friendly environment.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

International

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here