Government offers exemptions to foreign investors from MAT

Finance Minister Arun Jaitley speaks during a conference on the ''Regulatory Framework for International Financial Services Centre Reuters/Amit Dave
NEW DELHI (Reuters) - The government on Thursday offered tax relief to foreign investors, exempting income from securities transactions, royalties and technical service from minimum alternative tax (MAT).

Finance Minister Arun Jaitley, however, said the exemption would apply only in those cases where the normal tax rate is below 18.5 percent.

Jaitley also eased the rules for the application of MAT for real estate investment trusts.