Dr Reddy's seeks reduction in MAT

Dr Reddy's Laboratories on Wednesday welcomed the Government's decisions on tax and also sought a reduction in MAT.

In a statement issued here, Saumen Chakraborty, President and CFO of Dr Reddy’s said: ``The press release by the CBDT relating to tax reduction from 30 per cent to 25 per cent over the next four years, coupled with phasing out of investment-linked and profit-linked deductions is a step in the right direction. At the same time, the Government should also consider a reduction of MAT in a phased manner."

The introduction of a sunset clause for SEZs with effect from March 31, 2017, seems to be at odds with the 'Make in India’ objective.

``This could be deferred for a few more years considering the significant investments by the companies, as also the impact SEZs encountered due to the MAT levy,'' he added.