Stock Market

View: A tax regime both predictable and competitive is good for India

In 2006, Cairn reorganised its assets to support India’s economy by creating a new Indian company that would eventually list on the BSE.

Synopsis

In 2006, Cairn reorganised its assets to support India’s economy by creating a new Indian company that would eventually list on the BSE. Even though there were no third-party transactions, GoI claimed a tax due under a 2012 retroactive tax law.

By Stan MajcherThe economic potential of India is tremendous. With its highly educated and industrious population, India has the potential to grow its economy to many multiples of its current size. To meet its potential, millions of jobs will need to be created as young Indians enter the labour market. However, economic growth is not assured. Investors, both foreign and domestic, must have confidence that India will adhere to strict enforcement

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