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India Archive

  • December 2015

    The Cunningham column: China gets ready to lead tax world in 2016

    December 15, 2015

    China will be at the forefront of BEPS implementation in 2016, as president of the G20. Ralph Cunningham says it is a big opportunity for a non-OECD member to shape the international tax system.

  • The Brockman brief: BEPS implementation: A holiday wish

    December 15, 2015

    Drafters of the new base erosion and profit shifting (BEPS) actions and precision watchmakers share a common wish; that their immeasurable efforts devoted to refining and juxtaposing complex parts result in an instrument that is respected and trusted around the world.

  • BEPS Special

    December 15, 2015

    Matthew Gilleard introduces this exclusive, comprehensive insight into the work of the OECD in the area of countering tax base erosion and profit shifting (BEPS). Within these covers you will find out about the key messages delivered under each of the OECD’s 15 Actions, direct from the individuals responsible for putting each aspect of the project together.

  • Intercompany charges below EBIT: A double-edged sword

    December 15, 2015

    Luis Abrantes, tax director and head of transfer pricing at Carlsberg Group, draws on practical experiences to unpick the intricacies of intercompany charges.

  • India’s TP regime takes steps towards global best practices

    December 15, 2015

    Since the introduction of Indian transfer pricing regulations in April 2001, transfer pricing has become the most important international tax issue for businesses operating in the country, says Vatika Bhatnagar of Airtel India’s global transfer pricing team.

  • India: India continues to promote domestic business environment

    December 15, 2015

  • 2016 Look-Ahead: BEPS implementation to dominate international tax landscape

    December 15, 2015

    With the final deadlines for the OECD’s BEPS Project falling at the end of this year, 2016 was always going to be a year dominated by questions about implementation. While BEPS-related activity is not the only issue on the horizon, that alone will ensure multinationals are kept busy over the next 12 months. Joe Stanley-Smith and Matthew Gilleard look through the peephole to analyse taxpayer hopes, fears and expectations for the year ahead.

  • India and Korea: New memorandum suspends tax collection during MAP

    December 14, 2015

    India and South Korea have signed a new MoU [memorandum of understanding] tax treaty on December 9 to strengthen the ease of doing business in each country.

  • November 2015

    ANALYSIS: India’s movement towards a non-adversarial tax regime

    November 19, 2015

    It is well-documented that the Indian Government has been making efforts to promote a non-adversarial tax regime in India, but are taxpayers feeling a knock-on impact already?

  • New Delhi government open to out-of-court settlements

    November 17, 2015

    The New Delhi government has initiated arbitration processes for the Vodafone and Cairn Energy tax disputes, and has indicated it is not opposed to reaching settlement out-of-court.

  • India to accelerate corporate tax cut

    November 10, 2015

    India could slash its corporate tax rate sooner than expected, as the government sets out a roadmap for curtailing tax exemptions.

  • India to introduce paperless revenue audits

    November 07, 2015

    The Central Board of Direct Taxes (CBDT) in India has launched a pilot project of paperless revenue audits, under which tax officers will send Revenue audit notices and information requirements to the taxpayer via email.

  • October 2015

    New Delhi: Committee set up to simplify income tax laws

    October 30, 2015

    The New Delhi government has brought together a 10-member committee to simplify income tax laws, specifically the 55-year-old Income Tax Act.

  • Sajjan Singh Yadav appointed as Delhi VAT commissioner

    October 29, 2015

    Lieutenant Governor Najeeb Jung has appointed Indian Administrative Service (IAS) Officer Sajjan Singh Yadav as the new VAT commissioner for Delhi.

  • M&A and ‘tax cursors’: Will they make or break your deal?

    October 29, 2015

    With continuing signs of a more business-friendly attitude from the Indian government, mergers and acquisitions (M&A) activity is picking up once more. Sanjay Sanghvi and Vinita Krishnan of Khaitan & Co analyse the role of ‘tax cursors’ in the successful completion of a transaction.

  • Mind your own business: The importance of knowing what we really do

    October 29, 2015

    Steven Ouwerkerk, global head of tax at APM Terminals, argues that to deal with the corporate challenges of operating in an increasingly borderless world, multinationals must learn to operate in a department-less manner, sharing experiences across functions and understanding issues from a variety of perspectives. He also brings a new meaning to the phrase ‘mind your own business’.

  • The Brockman brief: Tax transparency: Is it a one-way street?

    October 29, 2015

    The envisaged ideals of ‘tax transparency’ are being proposed, and legislated, by tax administrations worldwide. This month’s Brockman brief focuses on the fact that mutual and reciprocal tax transparency with multinational entities (MNEs) remains somewhat elusive. It is now time to briefly assess some of these initiatives to fairly gauge the mutuality of such initiatives.

  • The Cunningham Column: Every little helps in international tax reform

    October 29, 2015

    To start his new monthly column, Ralph Cunningham, the Hong Kong-based managing editor of International Tax Review, argues that capacity building will be critical to BEPS implementation in the Asia-Pacific region if piecemeal, unilateral measures are to be avoided.

  • India: Progress towards GST continues as dispute environment evolves

    October 29, 2015

  • Indian tax clarity key to attracting investment

    October 27, 2015

    Vitthal Dehadray of Franklin Templeton Asset Management and Rajeshree Sabnavis of BMR & Associates look at the emerging direct tax debates impacting the asset management industry in India.

  • BEPS implementation: The role of a multilateral instrument

    October 27, 2015

    Jeffrey Owens, director of the Global Tax Policy Centre at the Vienna University of Economics and Business (WU) Institute for Austrian and International Tax Law (IAITL) and former OECD tax chief, and Nathalie Bravo, research associate at the IAITL, explore the role of a multilateral tax instrument in implementing BEPS Project measures, and analyse the treaty issues and technical challenges to be overcome.

  • Eight out of ten businesses still using spreadsheets for VAT compliance

    October 14, 2015

    More than 80% of businesses are still using spreadsheets to manage their VAT compliance in at least one jurisdiction in which they operate, despite tax authorities around the world investing in better tools.

  • Good news for taxpayers as Indian court rules on foreign tax credit application

    October 13, 2015

    A Karnataka High Court (KHC) ruling has re-interpreted Indian tax law relating to foreign tax credits, in a move which will give more flexibility to taxpayers seeking to benefit from tax treaty provisions.

  • Castleton case wrapped up as FIIs and FPIs exempted from MAT

    October 06, 2015

    The Indian government’s decision not to apply the minimum alternate tax (MAT) to foreign investors has translated into a positive Supreme Court decision for Castleton Investment.

  • September 2015

    The Brockman brief: Performance review: The OECD’s reputation

    September 29, 2015

    The curtain is drawing to a close on the final OECD BEPS recommendations, while the OECD actors and supporting staff anxiously await reaction from the audience. This month’s Brockman brief runs the rule over the OECD’s BEPS work to date and looks ahead to see how developments are likely to impact the organisation’s reputation as the ‘go-to’ body for international tax matters.

  • BEPS: A developing country perspective

    September 29, 2015

    As the final recommendations of the 15 action plans that comprise the OECD Base Erosion and Profit Shifting (BEPS) project approach, Pramila Shrivastav, former Chief Commissioner of Income Tax at the Indian Ministry of Finance, looks at the associated issues from a developing country perspective, arguing that convergence of interests will hold the key to countering complex BEPS challenges.

  • Talking tax and telecoms with Telefônica in Brazil

    September 29, 2015

    Vasco Gruber Franco, head of tax for the Telefônica group in Brazil, talks to Matthew Gilleard about tax transparency, troublesome laws, and technological trials and tribulations.

  • India: Applicability of MAT to foreign investors

    September 29, 2015

  • India brings closure to MAT controversy

    September 24, 2015

    The Indian Government has today moved to bring closure to the issue of minimum alternate tax (MAT) applicability to foreign entities.

  • Foreign investors cheer India’s endorsement of AP Shah MAT recommendations

    September 04, 2015

    In good news for foreign institutional investors (FIIs) and foreign portfolio investors (FPIs), the Indian government has accepted the recommendations of the AP Shah panel on India’s minimum alternate tax (MAT).

  • August 2015

    Shome leads new international tax research think-tank

    August 26, 2015

    Parthasarathi Shome is the man who will lead India’s International Tax Research and Analysis Foundation (ITRAF), launched as a non-lobbying, apolitical think-tank which will provide research and other services to supplement government efforts to implement effective tax policy.

  • Issues the economist forgets? TP policy – a banking perspective

    August 21, 2015

    After spending 15 years in-house, Ben Henton last month joined BDO as a transfer pricing director. He returns to the UK from Asia after four years working at HSBC and DBS Bank in Hong Kong and Singapore. Here, he addresses operational risk challenges in transfer pricing (TP) from an in-house perspective, going beyond technical TP legislation and guidelines.

  • A tax system for sustainable growth

    August 21, 2015

    In this exclusive op-ed piece for International Tax Review, Chris Lenon, former head of tax for Rio Tinto and an expert witness to the Independent Commission for the Reform of International Corporate Taxation (ICRICT), argues that a focus on incentives and ultra low or no tax jurisdictions should be policy makers’ priority, rather than ideas included in the commission’s report, such as allocation.

  • India: India-Mauritius treaty renegotiations continue

    August 21, 2015

  • India hopes FATCA's exchange of information will reveal undeclared assets

    August 19, 2015

    The publication of detailed rules by the Indian government on August 7 builds on the intergovernmental agreement (IGA) the country signed with the US in July to implement the Foreign Account Tax Compliance Act (FATCA).

  • Indian Supreme Court adjourns Castleton hearing to consider AP Shah report on MAT

    August 06, 2015

    India’s tax authorities have adjourned a Supreme Court hearing for the Castleton case on minimum alternate tax (MAT) to allow themselves more time to study the AP Shah panel’s report on the issue.

  • July 2015

    India’s Black Money Act: What you need to consider while making a voluntary disclosure

    July 28, 2015

    The Indian Government’s pursuit of elusive ‘black money’ has led to the enactment of the Undisclosed Foreign Income and Assets (Imposition of Tax) Act 2015 (the Act), colloquially referred to as the ‘Black Money Act’.

  • Rodrigo Oreamuno named arbitrator in Rs 20,000 crore Vodafone-India dispute

    July 16, 2015

    The Indian government has appointed Rodrigo Oreamuno as its arbitrator in the long-running Vodafone dispute.

  • The Brockman brief: Illusory transparency: A symptom of BEPS complexity

    July 10, 2015

    The inception of the OECD’s base erosion and profit shifting (BEPS) action plans was accompanied by new demands for fiscal transparency, ignoring omnipresent thorns of complexity.

  • Vicious and virtuous circles: Planning for change with Schroders’ group tax head

    July 10, 2015

    Joe Stanley-Smith talks to Sue Cooper, group head of tax at global asset management company Schroders, about inter-departmental cooperation, planning for change and the difference between vicious and virtuous circles.

  • India's MAT: The government is listening

    July 10, 2015

    Poonam Khaira Sidhu, commissioner and departmental representative at the Income Tax Appellate Tribunal (ITAT), New Delhi, talks about open dialogue between authorities and taxpayers, and the evidence that the Indian government is listening to investor concerns.

  • US adds India to FATCA list of intergovernmental agreements

    July 10, 2015

    India and the US have signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA), which was passed by the US in 2010.

  • Taxpayers get Indian MAT reprieve for now; Aberdeen case delayed until Castleton verdict

    July 02, 2015

    Tax demands on foreign companies to pay India’s controversial minimum alternate tax (MAT) have been suspended until the Justice A P Shah Panel submits a report to the government on issues with the tax.

  • June 2015

    Indian Income Tax Department’s Rs 20,000 crore demand disrupts Cairn merger

    June 19, 2015

    The Indian Income Tax Department (ITD) has decided to pursue a Rs 20,495 crore ($3.2 billion) tax case against Cairn India, jeopardising the company’s proposed reverse merger with parent company Vedanta, the Central Board of Direct Taxes (CBDT) has confirmed.

  • India increases service tax ahead of GST implementation

    June 04, 2015

    India raised the rate of its service tax from 12.36% to 14% on Monday, in what is seen as a stepping stone for the introduction of its country-wide GST in April 2016.

  • 61 countries have now signed up for automatic exchange of tax information

    June 03, 2015

    Seven jurisdictions, including Australia, Canada and India, today became the latest signatories of the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial Account Information during the annual OECD Ministerial Council Meeting in Paris.

  • May 2015

    Nokia withdraws asset freeze request as Delhi High Court case begins

    May 28, 2015

    Nokia India’s latest dispute with the Indian tax authorities kicked off on Tuesday [May 26 2015] in the Delhi High Court.

  • The Brockman brief: UK diverted profits tax: The extrapolation effect

    May 27, 2015

    The UK's diverted profits tax (DPT) was developed, and enacted, quickly in the weeks leading to the general election. The legislation was a two-pronged attack: on transactions having insufficient economic substance and the avoidance of permanent establishment (PE). The legislation went into effect April 1 2015 and there have been hints that other countries are looking at similar moves; but exactly what tax doctrines will other countries adopt to achieve similar objectives?

  • BEPS: Improving data, economic analysis and measurement

    May 27, 2015

    It is stating the obvious to say that current international efforts to tackle base erosion and profit shifting (BEPS) have attracted a great deal of global attention. Since the OECD and G20 countries, working together on an equal footing, adopted a 15-point action plan to address BEPS in September 2013, the focus on this issue has steadily grown. David Bradbury, head of the tax policy and statistics division at the OECD Centre for Tax Policy and Administration, and the man overseeing this aspect of the project, provides exclusive insight into an action point that has not always received as much attention as other items in the Action Plan.

  • India: Changing perceptions through administrative evolution

    May 27, 2015

    Ashwani Mehta, former Chief Commissioner of Income Tax at the Indian Revenue Service, who retired in February after more than 35 years at the IRS department, assesses recent developments in Indian income taxation.

  • Shifting the balance: Asia’s move to indirect tax

    May 27, 2015

    With China poised to complete its VAT roll-out in the second half of this year and India hoping to introduce GST in 2016, the next few years will see 2.5 billion people paying consumption tax more efficiently than ever before on the goods and services they are buying at an ever increasing rate. Meredith McBride tracks the shift from direct to indirect taxation in Asia.

  • India: Minimum alternate tax on foreign companies

    May 27, 2015

  • Collections delayed on transfer pricing bills under India-UK DTAA

    May 25, 2015

    The Indian Ministry of Finance has issued a fresh notice preventing the collection of taxes on transfer pricing cases for Indian subsidiaries of UK resident companies undergoing a mutual agreement procedure (MAP).

  • Jaitley orders tax authorities to stop issuing MAT bills

    May 15, 2015

    India’s Finance Minister Arun Jaitley has told the tax authorities not to send out any new bills for minimum alternate tax (MAT) to foreign portfolio investors while a committee he has created enquires into the controversy.

  • Upper house delay means India’s GST may not achieve April 1 deadline

    May 15, 2015

    A Bill necessary for facilitating India’s goods and services tax (GST) has been delayed in the Rajya Sabha, the Upper House of Parliament, until the next parliamentary session this summer.

  • BMR & Associates adds three partners

    May 14, 2015

    Indian tax firm BMR & Associates has added Jayashree Parthasarathy, Prashanth Bhat and Sharath Rao to its list of partners.

  • India’s Lok Sabha passes GST Bill

    May 07, 2015

    India’s lower house of parliament this week passed a goods and services tax (GST) Bill, gaining the two thirds majority needed despite a staged walkout from the opposition Congress party.

  • Investors challenge Indian MAT

    May 04, 2015

    Several foreign portfolio investors have banded together to challenge India's minimum alternate tax (MAT) on capital gains in a case that will have wide-reaching implications for investors who face hefty tax bills between 2009 and 2015.

  • April 2015

    The Brockman brief: Timing symmetry is shattered: CbCR and TP documentation

    April 28, 2015

    May’s instalment of his column sees Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, look at the problems that may arise for taxpayers given the timing differences applicable for different documentation and reporting requirements, and what options are available for reconciling these.

  • Shome leaves ministerial adviser role behind

    April 28, 2015

    Partho Shome’s 30-year career as a tax official and adviser to Indian governments and multilateral organisations may be at an end for now, but he will still take a keen interest in tax policy, as this exclusive interview with International Tax Review reveals.

  • Tax planners' task tougher than ever

    April 28, 2015

    Failing to plan is planning to fail. We are all familiar with the phrase. But practising what one preaches in this regard has never been more important for corporate taxpayers.

  • Mirror, mirror on the wall, please show the purpose to all

    April 28, 2015

    Rishi Joshi, associate member of the Institute of Chartered Accountants of India, analyses recent controversy and litigation on the issue of indirect share transfers.

  • India: Exclusion of overseas dividend from indirect transfer provisions

    April 28, 2015

  • Shome spells out importance of TARC’s recommendations

    April 24, 2015

    The chairman of India’s Tax Administration Reform Commission (TARC), which completed its work earlier this year, has highlighted an increased customer focus, the desirability to combine the country’s direct tax and indirect tax administrations, and the need for impact assessment and revenue forecasting, as examples of the organisation’s most important recommendations.

  • Vodafone back in India’s sights for more tax

    April 22, 2015

    The Indian government is attempting to promote a more taxpayer-friendly environment, but is not being helped by demands from the tax authorities for more revenue from multinational companies. Vodafone received a notice this week relating to tax assessments for 2009-2010 and 2010-2011.

  • India’s ‘taxpayer-friendly regime’ short-lived as investors get MAT bills

    April 21, 2015

    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.

  • Huge Hewlett-Packard India customs dispute to resume next week

    April 02, 2015

    The Indian Customs Tribunal will resume hearing the $403 million (Rs2,500 crore) Hewlett-Packard India (HPI) tax evasion case, which is one of the biggest customs disputes in India’s history, on April 6.

  • World Tax and World Transfer Pricing 2016: The research period is now open

    April 02, 2015

    Don't miss out on your chance to be included in International Tax Review's directories of the leading tax and transfer pricing firms around the world.

  • March 2015

    Jaitley introduces Bill to levy 90% tax on funds hidden abroad

    March 30, 2015

    Making good on his promise that the government would crack down on so-called black money, India’s finance minister Arun Jaitley has introduced a Bill in the lower house of parliament (Lok Sabha) which would penalise Indian tax evaders with a whopping 90% penalty and possible jail time if convicted of non-disclosure of undeclared assets held outside the country.

  • The Brockman brief : TP risk determination: Transparency and mutuality

    March 25, 2015

    This month, Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, runs the rule over issues of transfer pricing risk determination, focusing on transparency and the benefits of increased levels of authority reciprocity.

  • Global oil price plunge shakes up the way governments do taxes

    March 25, 2015

    If political instability, leadership changes, and tightened tax laws weren't strenuous enough, plummeting oil prices in the latter half of 2014 left many governments and corporations exasperated, questioning how low prices could conceivably go. Meredith McBride analyses how authorities around the world have responded with sectoral tax changes.

  • Indian POEM: A melodious reading?

    March 25, 2015

    Tirthesh Bagadiya of Bagadiya & Jain Chartered Accountants analyses proposed place of effective management (POEM) provisions contained in Finance Minister Arun Jaitley’s February 28 Budget speech, outlining the main concerns held by businesses.

  • India: International tax proposals in Budget 2015

    March 25, 2015

  • Taxpayers laud Delhi High Court for striking out bright-line test for AMP expenses

    March 23, 2015

    The Delhi High Court has delivered a major ruling regarding the taxation of advertising, sales, and marketing promotions (AMP) expenses.

  • How should taxpayers deal with rising indirect tax bills?

    March 20, 2015

    A new report has identified rising indirect tax rates, the spread of VAT or GST systems and stricter taxation of e-commerce are key trends of today’s indirect tax environment.

  • Rahul Mitra becomes partner of KPMG in India

    March 17, 2015

    After more than 20 years with PwC, Rahul Mitra has joined KPMG India (BSR & Associates is the affiliated chartered accountant firm) as a partner in the tax & transfer pricing practice and national leader of dispute resolution and litigation for direct taxes & transfer pricing.

  • Modi pledges to continue Mauritius tax treaty reform to end abuse

    March 14, 2015

    As Indian prime minister Narendra Modi visited Mauritius during its national day celebrations March 12, the two countries pledged to move forward with negotiations to update their double taxation treaty.

  • Tata may face double taxation after High Court allows VAT on brand royalties

    March 11, 2015

    The Bombay High Court has ruled in favour of the Maharashtra revenue authorities on levying VAT on the transfer of the right to use intangibles including trademarks, copyrights or patents.

  • India Budget 2015 - special report

    March 04, 2015

    The first full Budget from Narendra Modi's Indian government was keenly awaited by corporates, partly because of the pro-business sentiment presented by Modi and his finance minister, Arun Jaitley, since taking office. The two did not disappoint, bringing clarity to taxpayers and foreign investors on a number of fronts. ITR's special report takes you through the hopes and fears of taxpayers in the build-up to Jaitley's Budget speech, and analyses the corporate tax measures announced on the day. We also bring you our exclusive interview with Finance Minister Jaitley from December 2014.

  • Bart le Blanc joins Norton Rose Fulbright

    March 03, 2015

    Norton Rose Fulbright has hired Bart le Blanc from Loyens & Loeff to work in its Amsterdam office as a tax partner.

  • India Budget 2015 - Indirect tax changes fail to strike a chord

    March 03, 2015

    Abhishek Shah, of Caterpillar in Asia, but writing here in a personal capacity, explains where he thinks the Indian Budget should have gone further on indirect tax.

  • February 2015

    India Budget 2015-16: Arun Jaitley sends strong signal to investors

    February 28, 2015

    Arun Jaitley delivered India’s Union Budget 2015-16 today, sticking to the government’s script of encouraging increased investment from the business community. While the overall reaction has been positive, silence on the future of certain aspects of the minimum alternate tax (MAT) is one drawback for taxpayers.

  • Cross border taxation: Indian Supreme Court explains source rule

    February 27, 2015

    The Supreme Court of India (SC) has explained the ‘source rule’ of taxation and holds the success fee paid to an offshore financial adviser taxable as fee for technical services (FTS) in a recent ruling.

  • 'Non-adversarial regime': US and India poised to resolve tax disputes with billions at stake

    February 27, 2015

    Following the momentum generated by recent meetings with the US, India has the best opportunity in years to improve investor confidence in its 2015/2016 Budget announcement February 28.

  • Indian Budget to focus on ‘Make in India’ and FDI incentives

    February 26, 2015

    February 28 will see the Narendra Modi government deliver its first full Budget, for 2015-16. Finance Minister Arun Jaitley’s speech has been shrouded in speculation, but taxpayers should expect incentives related to manufacturing and the ‘Make in India’ campaign, while the general anti-avoidance rules (GAAR) will likely be deferred.

  • India: Chief Justice Dattu launches separate tax disputes court

    February 25, 2015

    India’s Supreme Court has decided to launch a separate bench for tax-related issues to help shift a backlog of 10,843 tax disputes.

  • The Brockman brief: Interest: Double taxation equality is fading

    February 24, 2015

    In the first of his regular monthly updates, Keith Brockman, global tax director at Mars, lecturer and author of the Strategizing Multinational Tax Risks blog, looks at why countries are enacting unilateral legislation to limit interest deductibility, the shift in focus from eliminating double taxation to eliminating non-taxation, and why, as a result, double taxation via interest limitations is here to stay.

  • Cheers! Celebrate the world's top transactional firms

    February 24, 2015

    International Tax Review analyses global M&A trends from the past year and highlights the leading firms for tax transactional advice by jurisdiction.

  • India: Creation of service PE by activities of employees deputed to India

    February 24, 2015

  • Budget preview: Siemens on how tax may hold the key to 'Make in India'

    February 18, 2015

    With the Indian Budget fast-approaching, Subhankar Sinha, senior vice president, head of tax for the South Asia region at Siemens, looks at the tax measures that could be used to incentivise the government's 'Make in India' campaign.

  • Firm commitments in India: Dhruva Advisors and Vox Law align while AMSS splits

    February 03, 2015

    Specialist indirect tax and dispute resolution firm Vox Law and new legal venture Dhruva Advisors have announced their alignment. Dhruva’s CEO Dinesh Kanabar, formerly a tax and regulatory leader at PwC and partner at KPMG, began Dhruva Advisors two months ago with a team of five partners and 50 lawyers.

  • FATCA confusion remains as India delays signing IGA

    February 02, 2015

    Time is ticking for India to sign its inter-governmental agreement (IGA) with the US under the Foreign Account Tax Compliance Act (FATCA) after it received a one month extension on the original December 31 deadline.

  • Relief for taxpayers as Indian authorities instructed to follow Vodafone ruling in similar cases

    February 02, 2015

    The Central Board of Direct Taxes (CBDT) has told Indian authorities to follow the principles outlined in the Vodafone case, in a move which will bring some certainty to the sub-continent.

  • January 2015

    Indian Government will not appeal Vodafone decision

    January 28, 2015

    The Indian Government has decided not to appeal the Bombay High Court (HC) ruling which stated Vodafone was not liable to pay a 3,200 crore ($525 million) tax demand.

  • BEPS – Preventing treaty abuse: A practical perspective

    January 27, 2015

    Keith Brockman, global tax director at Mars and author of the International Tax Best Practices blog, analyses BEPS Action 6 on preventing treaty abuse, calling for more balance in seeking to avoid double taxation and double non-taxation, and more guidance on the interplay between domestic law and treaty interaction.

  • Mariano Giralt: Global custodian and acronym-buster

    January 27, 2015

    The landscape of international taxation is changing. The OECD’s BEPS project is likely to rewrite the rules governing international taxation in a way that has not been seen since the League of Nations shaped existing rules in the 1920s. A key component of this is taxation of the financial sector. Various sector-specific tax laws have been proposed. This is providing those in the sector with plenty to think about. One such figure is Mariano Giralt, Managing Director, Tax Services, at BNY Mellon. He talks to Matthew Gilleard about some of the key tax developments impacting financial services.

  • In taxpayers' sights: What to look out for in 2015

    January 27, 2015

    With multilateral projects due for final delivery, and many of 2014’s key themes lingering on, 2015 comes with a lot of unfinished business.

  • Full plate for taxpayers seeking certainty in 2015

    January 27, 2015

    With multilateral projects reaching their climax in 2015, the year ahead is sure to be filled with moments that define the future direction of international taxation. Matthew Gilleard highlights some of the major trends taxpayers should be looking out for in 2015.

  • Indirect tax: Innovation, energy, and e-commerce

    January 27, 2015

    As global communications become more efficient, developing countries are fast-tracking their progress to becoming global economies – with VAT and excise tax reforms a crucial part of that process. Meredith McBride speaks with indirect tax leaders to pinpoint the issues that will have taxpayers and their advisers scratching their heads in 2015.

  • Moving goalposts mean taxpayers must stay on toes

    January 27, 2015

    Joe Stanley-Smith analyses how new attitudes and initiatives from tax authorities in key jurisdictions will influence the national and international tax dispute landscape in 2015.

  • India: Ruling on taxing installation or commissioning activities in composite contracts

    January 27, 2015

  • India closes in on IFRS convergence and releases new draft tax accounting standards

    January 16, 2015

    The new year has just started but India has already updated the road map for the introduction of new accounting standards, as well as draft rules on how income should be calculated and represented under the regime.

  • India and Indonesia cut costly fuel subsidies; increase tax on crude oil

    January 13, 2015

    As crude oil prices continue to drop, oil taxes in many countries continue to rise. For India and Indonesia, the price drops have been a welcome way to ease off costly oil subsidies amid proposed changes to their tax regimes.

  • Legitimate versus illegitimate tax planning - Delhi High Court dissects Vodafone

    January 13, 2015

    Globally, the sphere of taxation has witnessed a constant tussle between its primary players – while governments continually strive to maximise revenue and widen the tax base through successive amendments to tax laws and streamlining tax administration, taxpayers seek to arrange their affairs in a manner so that the incidence of tax is minimised.

  • GST tabled in India’s Parliament; alcohol, oil temporarily excluded

    January 06, 2015

    After eight years, the much-hyped constitutional amendment facilitating goods and services tax (GST) arrived in India’s Lower House of Parliament, just two days before the winter session closed.

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