SEZs to be included later in the Budget
The Union Budget might have missed on the tax concessions for Special Economic Zones or SEZs but the government has been working out on the comprehensive packages for the special zones to increase their exports, other investments, in other words increase their economic activities. The government intend to offer the SEZs some packages for their benefit. At present the ministry of finance is looking into the issue and has not completely done away with it.
Some top government officials stated that the department of commerce, that has been pushing the revival for all the special economic zones will be shortly making a fresh pitch in order to do away with the minimum alternate tax and also dividend distribution tax.
However, unlike previously the finance minister, Arun Jaitley is also not rejecting the present proposal at the face. One of the senior tax department officers, who wished to keep away his identity said that the matter of concession of tax for Special Economic Zones can be later included in the budget as the government is presently working to look into the packages they can afford for the SEZs. He also confirmed that the government will be taking up the issue as far as the finance ministry is concerned.
Source: The Economic Times
business and finance, Commerce Ministry, Economy, Foreign Trade Policy, sops for SEZs, tax benefits f, taxation and taxes, trade, trade agreements
