The Finance Ministry has expanded the scope of the terms of reference of Shome Committee on General Anti-tax Avoidance Rules to include non-resident tax payers.

The Finance Ministry has expanded the scope of the terms of reference of Shome Committee on General Anti-tax Avoidance Rules to include non-resident tax payers.

On August 6, the Finance Ministry had asked this committee to examine the applicability of the amendment on taxation of non-resident transfer of assets where the underlying asset is in India, in the context of FIIs operating in India purely for portfolio investment.

It has now been decided to expand the scope of the terms of reference of the Committee to include all non-resident tax payers instead of only FIIs, the Finance Ministry said in a statement here on Saturday.

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