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FPIs that register as cos to be out of surcharge ambit:Finance Minister

The Lok Sabha on Thursday passed the Finance Bill, 2019. The market BSE Sensex which has borne the brunt of this tax as FPIs are on a selling spree is likely to react and enter into red tomorrow.

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Nirmala Sitharaman

Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said those FPIs who wish to be out of the net of the surcharge on high net worth individuals may consider the option of structuring as companies as the foreign portfolio investors registered as trusts will have to pay the new tax surcharge.

The Lok Sabha on Thursday passed the Finance Bill, 2019. The market -- BSE Sensex which has borne the brunt of this tax as FPIs are on a selling spree -- is likely to react and enter into red tomorrow.

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