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Removal of retrospective taxes increased foreign Investments

  • Modi government decides not to resort to retrospective taxation as they are upsetting foreign investors.
  • PM, while addressing Indo-UK Business Meeting on Thursday, said that the Indian government is refining its tax regime to make it more transparent and predictable.
  • He also stated that the government is also working towards genuine investors and honest tax payers, get quick and fair decisions on tax matters.
  • He pointed out that because of these improvements foreign investments turned positive and India’s jumped 16 places on the World Economic Forum’s global competitive index.

Source:- Business Standard

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