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On FII MAT, Jaitley had said India cannot be a tax haven: Here's why he made a U-turn

Sep 02, 2015    

By accepting the recommendations of the AP Shah panel on the issue of retrospective tax demand on FIIs, the Narendra Modi government has added one more item to the long list of its U-turns. And at the face of it, this one definitely is a wise one, though the question why the government takes unwise steps only to reverse it later remains. For the uninitiated, it all started with the income tax department issuing tax notices to FIIs in April this financial year. A PTI report said about 100 foreign investors may have to cough up about $10 billion if the income tax department pressed with the noti...

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