Govt working on stable tax regime: PC

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SummaryFinance minister P Chidambaram on Wednesday said the government was working on a stable tax regime and a non-adversial tax administration.

Finance minister P Chidambaram on Wednesday said the government was working on a stable tax regime and a non-adversial tax administration.

"We are working towards clarity in our tax laws to have a stable tax regime and non-adversial tax administration and fair mechanism of dispute regulation," the minister said.

Chidambaram assured foreign investors that India was an attractive investment destination. The Centre is expected to unveil final guidelines on general anti-aviodance rules (GAAR), which have been criticised by foreign investors. A expert panel on GAAR headed by Parthasarathi Shome —- now advisor to Chidambaram — has recommended deferring these rules by three years.

The Shome panel also submitted its report on the retrospective changes to the tax laws.

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