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Text of the Statement made by the Finance Minister in Rajya Sabha yesterday relating to MAT on FIIS

Dated:- 8-5-2015 - A matter which has attracted considerable debate in the public space in recent weeks is the levy of Minimum Alternate Tax (MAT) on Foreign Institutional Investors (FIIs). The difficulties experienced by FIIs in this regard were bro .....

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. In view of a ruling given by the Authority for Advance Rulings in 2012, it was not possible to provide retrospective exemption for the prior period. Perhaps, this matter should have been addressed in 2012 itself and resolved in one way or the other .....

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ffected party moved the Supreme Court for early hearing. On behalf of the Government, it was conveyed to the Supreme Court that Government has no objection to early hearing as we are also keen on a final settlement of this issue for the prior period .....

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