The prospect of a reduction in tax litigation and a smaller compliance burden may become more realistic for taxpayers in India if the government goes ahead with the recommendation of a committee of officials and accounting professionals in the setting of its own accounting standards for the filing of tax returns from 2012-2013.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort