GAAR adding to investors’ anxiety: ICRAApril 26th, 2012 - 9:17 pm ICT by IANS
Kolkata, April 26 (IANS) Credit rating agency ICRA Thursday said the provisions of the General Anti-Avoidance Rules (GAAR) prescribed in this year’s budget has added to investors’ anxiety.
“Not lack of confidence… but it (GAAR) has added to some anxiety (among investors),” ICRA chief executive P.K. Choudhury told reporters on the sidelines of a programme organised by the Institute of Company Secretaries of India here.
Referring to the probable impact of GAAR on foreign institutional investors (FIIs) in India, Choudhury said: “I do not think that funds are moving out in large scale (from the country) because of GAAR… because they (investors) are not going to concentrate on one aspect… they are concentrating on many aspects. It is a very complex issue when a fund decides to exit a country.”
As the provisions of the anti-avoidance rules have hurt the business sentiment of India Inc, Finance Minister Pranab Mukherjee recently said he might modify some of the provisions.
Choudhury said the government’s clarifications were not “fully satisfactory”.
- GAAR panel expanded to cover non-resident tax payers - Sep 01, 2012
- PM refers tax on portfolio investments to GAAR Committee - Jul 30, 2012
- P-notes holders will not be taxed: Mukherjee - Mar 30, 2012
- Industry welcomes GAAR deferral - May 07, 2012
- Defer GAAR by three years, suggests Shome Committee (Lead) - Sep 01, 2012
- GAAR rollback a surrender to US: CPI-M - May 08, 2012
- India defers implementing GAAR for a year - May 07, 2012
- India defers GAAR by a year (Lead) - May 07, 2012
- Comments invited on new tax rules, PM to take final call (Second lead) - Jun 29, 2012
- Sensex rises 204 points on short covering, tax clarity (Roundup) - Mar 27, 2012
- PM sets up experts panel to review, rework GAAR - Jul 13, 2012
- Deferred GAAR not because of any fear: Mukherjee - May 08, 2012
- PM directs steps to revive growth and reverse pessimism (Roundup) - Jun 27, 2012
- Investment climate to be restored within two-three months: Moily - Jul 24, 2012
- Chidambaram to fine-tune investment policies, spur growth (Lead) - Aug 06, 2012
Tags: agency icra, anxiety, avoidance, budget, business sentiment, chief executive, clarifications, company secretaries of india, credit rating agency, finance minister, foreign institutional investors, india inc, institute of company secretaries, institute of company secretaries of india, kolkata, lack of confidence, large scale, pranab mukherjee, provisions, sidelines