A seemingly positive exemption on Indian minimum alternate tax (MAT) for foreign portfolio investors turned sour when Prime Minister Narendra Modi announced back-taxes of more than $6.4 billion on 100 foreign investors into India, with thousands more at risk. The announcement has caused some investors to decry the government’s promises of a taxpayer-friendly regime.
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Luis Coronado suggests companies should embrace technology to assist with TP data reporting, as the ‘big four’ firm unveils a TP survey of over 1,000 professionals
KPMG Netherlands’ former head of assurance also received a permanent bar and $150,000 fine; in other news, asset management firm BlackRock lost a $13.5bn UK tax appeal