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India needs ‘predictable’ tax regime, says Jayant Sinha

India needs a ‘simple, predictable and fair’ tax regime to restore foreign investor confidence, said Minister of State for Finance Jayant Sinha on Thursday.

“We have called for a simple, predictable and fair tax regime that is welcoming to foreign investors and that is fair and predictable for our domestic investors as well and what you have seen from some of the decisions that we have taken right now is that we are following through on those statements,” Sinha told media persons here.

On Wednesday, the Bombay High Court dismissed a tax notice amounting to Rs 3,200 crore sent against Vodafone, ruling that there is no taxable income on share premium received on the issue of shares.

After the ruling, the Centre decided to not appeal against the judgement, however stressing that while many cases are currently sub-judice, every case has to be looked at differently.

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