Welcome news for foreign investors in India!
Following is the Press release by Ministry of Finance:
“Through the amendment the Government proposes to clarify that MAT provisions will not be applicable to FIIs/FPIs not having a place of business/ permanent establishment in India, for the period prior to 01.04.2015. Pending such amendment, CBDT will convey to the field formations the decision of the Government to accept the recommendation.
The Report of the Committee is available on the website of the Finance Ministry and the Income-tax Department at www.finmin.nic.in and www.incometaxindia.gov.in”
Original Post By: Pallav Acharya
Certified Public Accountant, Chartered Accountant and Chartered Global Management Accountant with a niche in international tax area since 1985. Specialties include cross border tax consultation and compliance for business and individual clients. Frequent speaker, author of articles on international tax topics. Founder- owner of boutique firm specializing in international tax planning and compliance.
1 comment on “India Changes Tax Law; Makes MAT Provisions Inapplicable To Foreign Investors”
IT WILL BE GREAT IF YOU CAN LIST WHAT A M A T IS AND F L L AND F P I
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