PMO, finance ministry in talks over resolution of FPI surcharge issue

Image result for PMO, finance ministry in talks over resolution of FPI surcharge issueThe Prime Minister’s Office (PMO) and the finance ministry are in talks over the foreign portfolio investments (FPI) surcharge issue, a government official told CNBC-TV18.

After the Union Budget announcement in July, there was a meeting held by the finance ministry’s Department of Economic Affairs (DEA) where issues and representations were received by FPIs.

Now, finance ministry officials have met PMO. They met senior government officials including the revenue department, revenue secretary, Central Board of Direct Taxes (CBDT) chief, and senior representatives from the DEA.

PMO has sought a view from the revenue department and CBDT regarding a resolution to the issue, if at all there is an intention to address it. The DEA has also been asked to submit details of the representation that they had received from the FPIs earlier.

However, things are only at a discussion stage currently and whether this discussion leads to a rework in the government’s stand is a question that is far from being addressed.

[“source=cnbctv18”]