India signals won't intervene for now in foreign tax row

April 16, 2015 6:59 PM

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WASHINGTON, April 16 (Reuters) - Foreign investors should not look to the Indian government for now to provide relief from a ruling requiring them to pay taxes on years of previously untaxed capital gains, Indian Finance Minister Arun Jaitley said on Thursday.

U.S. and European investor groups are upset with the Minimum Alternate Taxation (MAT) measure, which would apply levies for past years at a higher rate than they had been subject to in the past. Tax experts say the foreigners may owe $8 billion.

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