India govt to soon set its position on controversial tax for foreign investors

JUL 24, 20159:21 PM

[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