GO
Loading...

India to set tax avoidance rules within 20 days-minister

Monday, 1 Oct 2012 | 4:22 AM ET

NEW DELHI, Oct 1 (Reuters) - India will set final rules on tax anti-avoidance within 20 days after considering recommendations made by a government panel, Finance Minister P. Chidambaram said on Monday.

The panel was set up by Prime Minister Manmohan Singh to examine controversial laws known as general anti-avoidance rules (GAAR), first proposed in the federal budget in March, that target firms and investors routing money through tax havens.

In a previous draft report, the panel had recommended that the GAAR rules be deferred for three years.

(Reporting by Manoj Kumar and Arup Roychoudhury)

((matthias.williams@thomsonreuters.com)(0091-11-4178-1014)(Reut

rs Messaging: matthias.williams.thomsonreuters.com@reuters.net))

Keywords: INDIA TAX/