<h1>Finance Minister Addresses MAT Issue on FIIs; Supreme Court Hearing Pending; Justice A.P. Shah to Review Tax Legacy.</h1> The Finance Minister addressed the issue of Minimum Alternate Tax (MAT) on Foreign Institutional Investors (FIIs) in the Rajya Sabha, noting the public debate it has sparked. The Finance Bill 2015-16 exempts FIIs from MAT prospectively, but a 2012 ruling prevents retrospective exemption. The matter is pending before the Supreme Court, which the government supports for an early hearing. A committee led by Justice A.P. Shah will review this and other legacy tax issues. The government emphasizes its commitment to tax certainty, avoiding retrospectivity, and fostering a favorable business environment.