MUMBAI/NEW DELHI (Reuters) – International trade groups representing more than 250,000 companies have told Indian prime minister Manmohan Singh in a letter that his government’s new retrospective tax proposals have led foreign businesses to reconsider their investments in the country.
India’s federal budget last month outlined a proposal to enable the tax authorities to make retroactive claims on overseas corporate deals and bring in new anti-avoidance measures, moves that have been criticized for further denting investor sentiment.
http://news.yahoo.com/global-business-groups-warn-india-over-tax-plan-080647693.html
