The UK recently changed rules to end a scheme used by Barclays that resulted in a tax liability of £500 million, Mukherjee is understood to have reminded Osborne.
BS: UK did the same on retro tax changes, FM tells Osborne
The UK recently changed rules to end a scheme used by Barclays that resulted in a tax liability of £500 million, Mukherjee is understood to have reminded Osborne.
4 comments:
Let me get this straight. UK shifted goalposts and robbed businesses. Therefore, Sonia Maino is entitled to rob me by changing the rules of the game and taking away whatever I have so that she can buy some designer lipstick that costs $100,000? How does that work? How is this justified?
I think Arvind is right. Two wrongs don't make a right.
Retrospective legislation makes a mockery of rule of law, and therefore is unconstitutional.
CONs are undoing what PVNR did. This should open the eyes of those think YumYumSingh is the architect (sic) of economic reforms.
Something reminds me that Pranab Mukerjee used to be commerce/finance minister in the last Indira Gandhi government which was known for screwing industry across India so much so that by the end of the decade India was staring into a balance of payment crisis.
This retrospective and retreograde move perfectly exemplifies the wealth destroying nature of socialist governments.
BTW, poverty line is nearly INR 30 per day.
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