India Says PE Investments Before 2017 Won’t Face Extra Tax

Buyout firms sitting on billions of dollars of legacy assets in India got some relief this week, when the country’s finance ministry said it won’t apply anti-tax avoidance laws to investments made before April 1, 2017.

The ministry’s tax officials clarified that general anti-avoidance rules won’t apply to any investments made before that date in a gazette notice issued on March 31. That removes a major question facing legacy private equity and venture investments in the country.