Budget 2018: Corporate America urges Arun Jaitley to reduce tax uncertainty

Arun Jaitley, Budget

Ahead of the Budget 2018, corporate America has urged Finance Minister Arun Jaitley for further reduction in tax uncertainty for multinational companies and institutional investors, a step which it said would help attract more foreign direct investments to India.

"A significant positive step toward improving the investment climate would be to further reduce tax uncertainty for multinational companies and institutional investors in India," Nisha Desai Biswal, the president of the US India Business Council (USIBC), said in a memorandum submitted to Jaitley.

Noting that in today's economic environment, scarce capital is allocated to markets offering optimal returns, Biswal said global businesses allocate investments where post-tax returns for a given risk profile are highest.

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