India preparing to take final decision on controversial GAAR tax rules-minister

NEW DELHI, July 25 Fri Jul 25, 2014 3:37am EDT

NEW DELHI, July 25 (Reuters) - India's new finance minister said on Friday he was preparing to take a final decision on the controversial rules on tax avoidance introduced by the previous government, which were deferred by two years.

Finance Minister Arun Jaitley did not give a timeline for the decision or more details.

Introduced in 2012, the General Anti-Avoidance Rules (GAAR), were aimed at companies routing money through tax havens such as Mauritius, but implementation was delayed after an uproar from investors who feared harassment from tax authorities. (Reporting by Manoj Kumar; Writing by Frank Jack Daniel; Editing by Malini Menon)

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