retrospective tax Archives


Hammered by retrospective tax determinations and non-traditional pricing plans introduced by Reliance Jio, the Indian telecom sector appeared to be in some kind of death spiral. But T.K. Thomas, one of the most knowledgeable observers of the sector, sees hope in the recent infusions of funds by entities ranging from Facebook to the Government of India. Beyond the immediate cash inflows he sees the overall prospects as positive: More than 50 per cent of the market is still not connected by data services.
Last night (4th February 2015), the TV Channel Derana invited me to participate in a debate in Sinhala on the interim budget presented by the new Minister of Finance. Here I used the case of punitive taxes on mobiles as a way of discussing the possible implications for investment in general, and for the ICT sector in particular. There was an intriguing tangential discussion on mobiles being bad per se that I will write about separately. Link to video clip in Sinhala.