Govt mulling ways to ease tax burden on foreign AIF investors

The government is evaluating ways to bring down the burden of higher taxes on foreign investors that pool money in alternative investment funds (AIFs) that are domiciled in India.

Such investors have had to bear higher taxes on their investment because of the goods and services tax (GST) borne by such funds, which is ultimately passed on to the investors.

In the past there have been requests for remission or reduction of rates applicable to such funds. Now, the Indian Private Equity and Venture Capital Association (IVCA) has written to the Central Board of Indirect Taxes and Customs, requesting an