Committee To Take Over Removal Of Tax Sops For SEZs

New Delhi: The Empowered Group of Ministers (eGoM), under the Chairmanship of the Union External Affairs Minister, Mr Pranab Mukherjee, is meeting here on Feb 4 to analyze the merit of the Finance Ministry''s plea for removing a slew of tax exemptions given to the Special Economic Zone (SEZ) and their developers. The Finance Ministry has drawn the attention of the eGoM on the revenue loss on account of tax exemptions to units in SEZs which has been pegged to be Rs 1,02,621 crore for the period 2006-07 to 2009-10. In fact the Finance Ministry included in last year''s Budget document, for the first time, the aggregate revenue loss estimates increasing out of such tax breaks to highlight the need for removing such exemptions.