India govt to soon set its position on controversial tax for foreign investors
[NEW DELHI] India's Revenue Secretary Shaktikanta Das said on Friday the government would decide in the next 10 days its position on the legal dispute with foreign investors over a controversial tax.
Mr Das made the comments on the same day a specially appointed government panel issued its recommendation over how to resolve the stand-off over the so-called minimum alternate tax (MAT).
The government has sought to retrospectively impose MAT on foreign investors, sparking a legal row. The Supreme Court is due to hold next month a hearing about the legality of the tax.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’
US jobs growth slows in April; jobless rate up to 3.9%
Magnitude 6.0 quake strikes Philippines, aftershocks and damage expected
Indonesia to permanently relocate 10,000 people after Ruang volcano eruptions