Government mulling high-level panel on tax issues
Updated: Apr 28, 2015 11:45:55am
New Delhi, April 28 (KNN) India plans to set up a high-level committee to sort out taxation issues of the past and make the system predictable, Finance Minister Arun Jaitley said at London.
Addressing the adverse fallout of revenue department’s move to levy MAT on foreign investors, the Finance Minister said, Government must put a quick end to the legacy issues concerning taxation.
"I am considering a high-level committee to explore what can be done to resolve the past and move beyond it in a way that would provide real predictability and certainty to investors," he wrote in an opinion piece in Financial Times.
This committee will be instructed to report back expeditiously so that early actions can be taken, Jaitley said.
The disputes that are now attracting attention are legacy cases, which are tax demands arising from actions that the tax authorities and the judiciary took before NDA government came to power. (KNN/DB)
Addressing the adverse fallout of revenue department’s move to levy MAT on foreign investors, the Finance Minister said, Government must put a quick end to the legacy issues concerning taxation.
"I am considering a high-level committee to explore what can be done to resolve the past and move beyond it in a way that would provide real predictability and certainty to investors," he wrote in an opinion piece in Financial Times.
This committee will be instructed to report back expeditiously so that early actions can be taken, Jaitley said.
The disputes that are now attracting attention are legacy cases, which are tax demands arising from actions that the tax authorities and the judiciary took before NDA government came to power. (KNN/DB)
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