Global business groups warn India over new tax plan – How about a push back over FATCA?

MUMBAI/NEW DELHI (Reuters) – International trade groups representing more than 250,000 companies have told Indian prime minister Manmohan Singh in a letter that his government’s new retrospective tax proposals have led foreign businesses to reconsider their investments in the country.

India’s federal budget last month outlined a proposal to enable the tax authorities to make retroactive claims on overseas corporate deals and bring in new anti-avoidance measures, moves that have been criticized for further denting investor sentiment.

http://news.yahoo.com/global-business-groups-warn-india-over-tax-plan-080647693.html

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One thought on “Global business groups warn India over new tax plan – How about a push back over FATCA?

  1. See I knew it and my gut told me India would be the first to do this &*$#. Countries are going to start copying the US and come up with even stranger retroactive laws than the citizenship law.

    They’ll say America is a land of laws, if they can get away with it why can’t we?

    The whole world is going to go mad!

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