Tax system being overhauled to woo foreign investors : Arun Jaitley

Seeking to soothe the sentiments of foreign investors, disturbed by fresh claims of tax on past transactions by Indian authorities, finance minister Arun Jaitley has said his government was rationalizing the country’s tax system to make it fair.

“We are trying to rationalize taxes – that is, lower taxes and introduce a non-adversarial and fair system” the finance minister told an event co-hosted over the weekend by the Federation of Indian Chambers of Commerce and Industry and UK-India Business Council.