Government Scraps Higher Surcharge On Foreign Investors | Read
Finance Minister Nirmala Sitharaman on Friday announced the government's decision to scrap the higher tax surcharge on foreign portfolio investors (FPIs). An increase in the effective surcharge on the super rich implemented as part of the Finance Bill 2019 also applied to foreign portfolio investors (FPIs), mainly registered as trusts. The higher taxes had rattled many FPIs as the changes announced in the first budget of the PM Narendra Modi-led second National Democratic Alliance government came into force.
