India’s ‘taxpayer-friendly regime’ short-lived as investors get MAT bills

April 20 2015

A seemingly positive exemption on Indian minimum alternate tax (MAT) for foreign portfolio investors turned sour when Prime Minister Narendra Modi announced back-taxes of more than $6.4 billion on 100 foreign investors into India, with thousands more at risk. The announcement has caused some investors to decry the government’s promises of a taxpayer-friendly regime.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Request Access or Login

Topics

more across site & shared bottom lb ros

More from across our site

Direct Tax

Exclusive: EY UK’s tax litigation head to join WTS UK

Boaz Goren’s move to the upstart PE-backed firm takes the number of senior UK tax professionals who have left EY this year to 13

Tom Baker, October 23 2026

Direct Tax

A taxing week: Deloitte should not hide behind its network amid Abramovich allegations

The allegations against Deloitte Cyprus raise uncomfortable questions about how far the big four can distance themselves from misconduct at member firms

Tom Baker, October 23 2026

Rankings analysis

World Tax middle east rankings release article 2026 image

World Tax Rankings Middle East 2027 released: challenger firms surge in UAE

The UAE accounted for most Middle East promotions and new rankings, as A&M Tax, Baker McKenzie, Dhruva Consultants and DLA Piper breached the top tier

Tom Baker, October 22 2026

Direct Tax

Exclusive: Weak pCbCR filings persist as Fair Tax Foundation analysis hits 650

Spanish-headquartered multinationals lead on reporting quality, while US and Swiss groups lag in the Fair Tax Foundation’s expanded analysis

Tom Baker, October 21 2026

Podcasts

Podcast: Danny Werfel on AI risk, IRS leadership, and global tax cooperation

Former IRS commissioner Danny Werfel joins ITR for a must-listen conversation spanning his time leading the agency, his AI risk framework, and the future of the OECD

Tom Baker, October 21 2026

Direct Tax

Oslo, Norway - 24 September 2022: PricewaterhouseCoopers or PWC

Pillar two spurs growth again as PwC’s tax revenues improve

Tax and legal services was PwC’s fastest-growing business line last year, helping to put the firm back on a par with its big four rivals

Sam Sholli, October 20 2026

Direct Tax

Beyond the headlines: New Middle East tax boutique puts AI at heart of its model

Ex-EY and Hourani & Partners leader Zain Satardien is using flexible staffing and AI-enabled systems to test a leaner model for specialist legal and tax advice

Tom Baker, October 19 2026

Direct Tax

A taxing week: KPMG’s updated action plan is encouraging despite elephant in the room

The big four firm is rightfully prioritising transparency and accountability as it seeks to rebuild from its scandal, but a glaring structural issue remains

Sam Sholli, October 16 2026

Direct Tax