India can ill-afford tax policy uncertainty

A flurry of tax demands on multinational companies such as Vodafone, Shell and Nokia has stoked uncertainties in India's investment climate. Even if legitimate in the eyes of the tax department, the demands are particularly ill-timed. As the finance minister attempts to woo global capital, if one of the arms of his ministry signals that there is no policy certainty in India, it could undo the goodwill P. Chidambaram might have built.

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