India scraps retrospective tax to appease foreign investor woes

The government backtracks on an aggressive tax law, with the hope of attracting foreign investment as state-owned companies undergo privatisation.

New Delhi’s bold move to scrap the controversial law that sees foreign companies taxed retrospectively is expected to restore international investor confidence in the market and improve the country’s investment climate. Additionally, it should settle ongoing multi-billion dollar tax disputes with telecom giant, Vodafone Plc and Britain's oil major, Cairn Energy.

¬ Haymarket Media Limited. All rights reserved.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.

Share our publication on social media
Share our publication on social media