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On MAT dues the IT department will not take any coercive actions against FIIs

The Finance Ministry, a day after government’s announcement of setting up a high level panel under the Law Commission Chairman A P Shah, has decided to not to adopt coercive methods for recovery of MAT dues from foreign investors.

The reports of panel would give a “policy direction to tax officers on applicability of MAT on FIIs”. The committee would be consisting of tax experts mainly and the ministry is working on the time limit that can be given to the committee for the report submission.

Whereas the report of the panel would not be binding on the government and a retired judge has been appointed as the head of the panel as it was felt that he would give an unbiased opinion on the entire issue.

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