India Issues Re-Assurances over Tax and Retroactive Legislation

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May 15 – India’s Finance Minister Pranab Mukherjee has scotched media reports concerning the intentions of India’s new tax regulations, and has pulled back on GAAR (general anti-avoidance regulations) until April 2013. Additionally, he has clarified that retrospective tax concerns over deals conducted overseas in which Indian assets are transferred would not be applicable.

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