USISPF hails Indian govt's move to withdraw retrospective tax law

US-India Strategic and Partnership Forum (USISPF) on Thursday applauded the Indian move to withdraw the retrospective law relating to tax on indirect transfers. “Yesterday's Bill introduced by the Finance Ministry will only encourage more international investments into India and is a welcome relief for companies who have long invested in the country. The USISPF is proud to have worked on this issue for many years”, Mukesh Aghi, President and CEO of the USISPF said.
USISPF applauds India's move to withdraw the retrospective tax amendment relating to tax on indirect transfers, he said in a statement. The 2012 decision of the UPA government to impose retrospective tax has been a black mark on India's reputation as a predictable investment destination, he said.