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‘FPI tax issue still being discussed’

‘FPI tax issue still being discussed’

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  9 Aug 2019 11:11 AM GMT

New Delhi: Ahead of the meeting of capital market representatives with the Finance Minister Nirmala Sitharaman on Friday, highly-placed sources said the FPI tax issue is currently under discussion, but no decision has been taken with regard to its withdrawal.

“It (FPI tax issue) might be under discussion .. but nothing has been signed or has been approved on file... there is no official word on it,” a highly-placed source said.

The capital market participants are to meet Sitharaman on Friday and expected to raise the tax issue of the Foreign Portfolio Investors (FPIs) and will probably seek its withdrawal.

They have been called by the Finance Ministry as part of the government’s outreach for seeking inputs on beating the slowdown and a broader economic revival programme before any policy intervention is taken up by the North Block.

Apart from meeting with the Finance Minister where representatives of NBFCs and mutual funds would also be present, there also will be a separate meeting by Economic Affairs Secretary Atanu Chakraborty with representatives of only FPIs likely at a different date.

Amid continuing overseas fund outflow from the markets following the decision to impose surcharge on FPIs, Sitharaman had said: “I am quite open to hear them out what they (FPIs) have to say.” (IANS)

Also Read: Speculation on FPI tax roll-back lifts Sensex over 600 pts

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