Cong slams govt for relief to FIIs on MAT

Tribune News Service

New Delhi, September 2

The Congress on Wednesday attacked the government for deciding against levying Minimum Alternate Tax (MAT) on capital gains made by FIIs retrospectively and questioned whether India has now become a "tax haven".

"This government forms policies, takes decisions and makes statements without applying their mind to it...Convoluted manner of decision-making has become the hallmark of Prime Minister Narendra Modi and Finance Minister Arun Jaitley," Congress spokesman Abhishek Singhvi said.

He said Jaitley had just three months ago said that the government would press ahead with the Rs 40,000-crore tax demand on FIIs as it was "reasonable" and wondered how he had found the tax demand "unreasonable" now.

Posing a number of questions to the PM and the FM on the issue, Singhvi asked, "Has India become a tax haven now?"

Industry body, Ficci on the other hand has welcomed the move.