Like the faulty General Anti-Avoidance Rules, Finance Minister P Chidambaram now needs to act on the minimum alternate tax (MAT). The special economic zones (SEZs) attracted large-scale foreign investments based on tax exemptions offered under the SEZ Act, 2005. However, after the implementation of MAT, SEZs are struggling to meet the very objective of their formation, i.e. to attract investments. It’s high time the government reconsidered its position on MAT.
Shekhar Palta New Delhi
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number