India’s GAAR clarifications raise more concerns
In the past 24 hours, Indian officials have tried to address the concerns of foreign investors who think the government’s proposed tax avoidance regulations, known as GAAR, are draconian and potentially very costly. The GAAR (General Anti-Avoidance Rules) proposal is one of many Indian policy moves that have sparked anxiety among overseas investors lately. U.S. Treasury Secretary Timothy Geithner raised those concerns with Indian Finance Minister Pranab Mukherjee in Washington on Thursday after skittish industry groups wrote to him.
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