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Sep 02, 2015
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Government accepts AP Shah Panel report on MAT; no levy on FIIs prior to April 1, 2015
Foreign institutional investors will not face minimum alternate tax, or MAT, in India. The Narendra Modi government on Tuesday decided to accept a high-level panel's report to bring down curtains on the acrimonious issue that had undermined its promise of a stable and non-adversarial tax regime. The government will soon issue a directive to its officials not to pursue MAT demand on foreign institutional investors (FIIs) or foreign portfolio investors (FPIs) for the period before April 1, 2015, pending legislative change, the finance ministry said in a statement on Tuesday.
Source -
http://economictimes.indiatimes.com
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