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India Archive

  • December 2016

    Multinationals playing catch-up with India’s new digital sales tax regime

    December 16, 2016

    India’s new digital sales tax regime was announced with just three weeks for businesses to comply. Two weeks since its introduction and it seems foreign companies are still unclear on how to administer the tax.

  • The Brockman brief: Tax policy: The time to speak is now

    December 15, 2016

    Many interested parties are voicing their opinions on the evolving international tax policies that have emerged since the OECD’s BEPS Project was launched, but the voice of corporations is missing from the discussions. Keith Brockman highlights the need for reasoned opinions that go beyond casual conversations.

  • India: Demonetisation of high currency notes in India

    December 15, 2016

  • Last chance to register: Free global transfer pricing webinar on managing BEPS Action 13

    December 05, 2016

    Only a few days remain to join a panel of transfer pricing experts on December 8, as they share invaluable insights and takeaways on how to manage the challenges arising from BEPS Action 13.

  • November 2016

    India’s Supreme Court rules entry taxes to be constitutional

    November 18, 2016

    Businesses operating across India have been dealt a blow, after the Supreme Court ruled that entry taxes imposed by state governments on cross-border goods from other states are constitutional.

  • India’s GST Council agrees on rates

    November 03, 2016

    India’s GST Council has agreed on a rate structure for the country’s new goods and services tax (GST) regime, due to enter into force on April 1 2017.

  • World Tax guide to the best tax advisers launched

    November 03, 2016

    World Tax 2017, International Tax Review's guide to the leading tax advisory practices around the world, including law and accountancy firms, is live and free to view now.

  • Modernising MAP – BEPS Action 14 to improve dispute resolution

    November 02, 2016

    Following approval by all members of the BEPS inclusive framework, the OECD has publicly released the substance and process for the peer review of BEPS Action 14.

  • India appoints new chairman of the Central Board of Direct Taxes

    November 01, 2016

    Sushil Chandra has taken over from Rani A Nair as the chairman of the Indian government’s Central Board of Direct Taxes (CBDT) as of November 1.

  • October 2016

    Investors and BEPS: A precarious balance

    October 26, 2016

    The OECD BEPS Actions will result in a higher effective tax rate (ETR) and cash tax liability for most multinationals, whereas investors will continue to strive for lower ETRs and cash tax liabilities in the companies they consider for investment. Keith Brockman looks at where the balance should be in this equation, and who should be the master negotiator.

  • E-commerce: The global shift in taxation

    October 26, 2016

    Distance-selling regimes that impose a sales tax on digital goods and services are spreading across the globe. Joe Stanley-Smith looks at how these changes are being shepherded by the OECD.

  • Build, buy or outsource: Withholding tax reclamation

    October 26, 2016

    Some investors and advisers still believe that the global withholding tax reclamation process is so complex and labour-intensive that it outweighs the advantages, but this is simply not true. Bill Salva, global business development manager at Goal Group looks at the options for reclaiming withholding tax.

  • India: Tax amortisation of goodwill

    October 26, 2016

    In India, intangibles that qualify for depreciation under the Income-tax Act, 1961 (Act) are defined to include "know-how, patents, copyrights, trademarks, licenses, franchises and any other business or commercial rights of similar nature". Since "goodwill" does not expressly find a mention in the list of intangible assets that qualify for depreciation, claims of depreciation on goodwill have been a matter of debate for a considerable time with decisions on both sides of the spectrum.

  • Build, buy or outsource: Managing withholding tax reclamation

    October 19, 2016

    Some investors and advisers still believe that the global withholding tax reclamation process is so complex and labour-intensive that it outweighs the advantages, but this is simply not true. Bill Salva, global business development manager at Goal Group looks at the options for reclaiming withholding tax.

  • India: Recent notable advance rulings in India

    October 10, 2016

    A scheme of obtaining advance rulings has been in place in India since the early 1990s to help taxpayers better plan their affairs and to help prevent long and expensive litigation. Although this is a useful tool, there have been practical challenges and delays in obtaining advance rulings over the last few years. As a result, rulings which are required to be issued within six months are taking more than four years.

  • Public audit scorecards: Why not?

    October 03, 2016

    With tax authorities being granted more and more company data as transparency measures start to hit, Keith Brockman looks at how companies could scrutinise them.

  • September 2016

    Troubled waters – global transparency and controversy in uncertain times

    September 27, 2016

    David Swenson, global leader of PwC's tax controversy and dispute resolution network, looks at how the OECD's BEPS project is changing the tax controversy and disputes landscape and the potential pitfalls that may emerge as certain jurisdictions do not commit to the multilateral initiatives.

  • India’s tax plans steaming ahead as GST Council gets approval

    September 12, 2016

    India’s goods and services tax (GST) reform is taking shape as plans to establish a GST Council and secretariat were approved by the Cabinet of Ministers on September 12, the same day that the 122nd Constitutional Bill for GST implementation entered into force.

  • August 2016

    Asia Pacific nations slashing corporate taxes in competitive war

    August 24, 2016

    Indonesia may have started Asia’s ‘race to the bottom’ on corporate tax as it looks to match Singapore and stop companies from keeping assets offshore. Others are announcing cuts to stay in the race.

  • BEPS and tax illiteracy: did it just happen?

    August 23, 2016

    Efforts to tackle base erosion and profit shifting has led to wider interpretations of tax terminology. Keith Brockman considers the loss of tax literacy in the post-BEPS era.

  • Pokémon GO could get caught in a tax bubble

    August 23, 2016

    Mobile app sensation Pokémon GO has once again raised the debate on taxing digital services and in-app purchases. Joe Stanley-Smith and Amelia Schwanke compile a veritable Poké-montage of the best tax insights into the wildly popular app and the tax rules surrounding the growing market.

  • Tax technology: A brave new world

    August 23, 2016

    Tax authorities worldwide are increasingly relying on digital technologies to gather and analyse tax data, and implement intelligent systems that provide real-time tax collections and assessments. Moreover, tax data sharing among tax authorities, which will become an automated process from 2017, will help tax authorities complete more audits and investigations, creating a world where there will be nowhere to hide from the tax man. Amelia Schwanke investigates how authorities and taxpayers are adjusting to digital tools and systems and what the future holds.

  • India: Intantible assets; buyback taxes; and GST

    August 23, 2016

  • Brexit survey: Are multinationals ready?

    August 10, 2016

    Brexit could cost the UK as much as £70 billion ($91 billion) a year if Britain walks away from membership in the EU single market, according to the latest estimates. So how are companies preparing? Take the ITR and KPMG survey and we'll provide a summary of respondents' answers.

  • India overcomes big hurdle on GST, so what’s next?

    August 04, 2016

    The introduction of a goods and services tax (GST) in India is a giant leap forward, but the battle to implement the country’s biggest tax reform still faces challenges.

  • July 2016

    OECD to name and shame uncooperative jurisdictions

    July 25, 2016

    The OECD will unveil its tax blacklist in 2017, but loopholes in the criteria could allow the US, Germany and Switzerland escape sanctions.

  • Survey: Brexit readiness barometer

    July 19, 2016

    Brexit has bolstered uncertainty in the tax system and while the UK’s relationship with the EU is evolving, understanding and planning for your business’s next steps during this ambiguity is vital.

  • Investing in India: How structuring dynamics change to keep pace with tax policies

    July 14, 2016

    Sanjay Sanghvi and Ritu Shaktawat, partner and principal associate at Khaitan & Co in India, investigate how India’s revised DTAs and evolving tax laws are changing the way various structures are used for foreign direct investments in India.

  • Board accountability: A new era

    July 12, 2016

    Efforts to improve tax transparency in the post-BEPS environment have shifted the tax accountability of corporations to their boards of directors. Keith Brockman considers the implications of these changes.

  • Brexit: Navigating the tax minefield

    July 12, 2016

    The UK’s vote to leave the European Union has spurred multinationals in the UK, Europe, North America and Asia to reconsider their operations in Britain. Anjana Haines looks at the potential tax implications of a post-Brexit UK and its relationship with the EU.

  • Key takeaways from India’s GST Bill for multinationals

    July 12, 2016

    Amelia Schwanke outlines the details of India’s GST Bill and highlights the new rules that companies will need to comply with if the regime is introduced next year.

  • India: Renegotiation of tax treaties by India

    July 12, 2016

  • Brexit: Worldwide winners and losers

    July 12, 2016

    As the UK's relationship with the EU evolves following the vote to leave, many nations are considering how they can benefit from the UK's exit, or whether they themselves need to make changes.

  • Majmudar & Partners internal promotions

    July 05, 2016

    Majmudar & Partners in India has appointed Rukshad Davar as head of the firm's M&A practice group, Amrit Mehta to principal and Kritika Agarwal to senior associate.

  • June 2016

    India amends application date of General Anti-Avoidance Rule

    June 28, 2016

    Investors in India have been given room to breathe as the Central Board of Direct Taxes (CBDT) amends the effective date of the General Anti-Avoidance Rule (GAAR).

  • Key takeaways from India’s GST Bill for multinationals

    June 24, 2016

    India’s GST Bill details the new rules that companies will need to comply with when the regime is introduced next year.

  • Founder of ELP leaves to start counsel practice

    June 23, 2016

    Rohan Shah, founder and managing partner at ELP in India, will leave his role on September 30 to start an independent counsel practice.

  • Amazon India files tax dispute case

    June 17, 2016

    Amazon India has filed a lawsuit at the Gujarat High Court against the imposition of state entry taxes.

  • KPMG India appoints new head of transfer pricing

    June 07, 2016

    Rahul Mitra will oversee KPMG’s transfer pricing practice in India from June 6.

  • Inequality and tax

    June 07, 2016

    Global wealth inequality is at its zenith and understanding where the problem originates is vital for policy makers to stop this trend.

  • May 2016

    Tax talent: Developing a great team

    May 26, 2016

    While it may be difficult to change some of the individuals in your team, Keith Brockman believes it is possible to develop their skills in areas essential to future success, such as negotiation and leadership.

  • Asia Tax Awards 2016

    May 26, 2016

    The official with ultimate responsibility for the introduction of goods and services tax (GST) in Malaysia won the award for Asia Tax Commissioner of the Year at International Tax Review’s Asia Tax Awards in Singapore on May 5.

  • Tax haven or …Tax hell?

    May 26, 2016

    The Panama Papers intensified pressure on David Cameron in the lead-up to London's anti-corruption conference. Oxfam released a letter – signed by more than 300 economists – hoping to put pressure on the Prime Minister to start eradicating tax havens.

  • Revised India-Mauritius treaty ends decade-long tax debate

    May 26, 2016

    The protocol to amend the India-Mauritius tax treaty has been enacted. What can investors expect?

  • India: India-Mauritius tax treaty amended – capital gains exemption removed for shares acquired after April 1 2017

    May 26, 2016

  • Tax department’s appeal on Vodafone drags litigation “too far”

    May 19, 2016

    The Supreme Court in Delhi has accepted an appeal from the Income Tax Department (ITAT) against a Bombay high court order, which rejected the ITAT’s transfer pricing adjustment for the sale of one of its call centres in 2007.

  • ELP's internal promotions

    May 17, 2016

    ELP has promoted Harsh Shah, Kumar Visalaksh, Hardik Modh, Jitendra Motwani, Karthik Sundaram and Ranjeet Mahtani to partners of its tax department.

  • Revised India and Mauritius treaty ends decade-long tax debate

    May 12, 2016

    India and Mauritius have signed a protocol that amends certain measures in their Double Tax Agreement (DTA), which will help to prevent tax avoidance as part of the India Government’s efforts to tackle BEPS.

  • Asia Tax Awards 2016

    May 09, 2016

    Congratulations to all the companies, firms and individuals that joined the International Tax Review at the 2016 Asia Tax Awards at the Goodwood Park Hotel in Singapore on May 5.

  • ELP Partners promotes 14

    May 06, 2016

    ELP Partners has promoted 14 people within its tax practice in India.

  • Malaysian customs chief wins top prize at Asia Tax Awards

    May 05, 2016

    The official with ultimate responsibility for the introduction of goods and services tax (GST) in Malaysia has won the award for Asia Tax Commissioner of the Year at International Tax Review's Asia Tax Awards in Singapore tonight.

  • April 2016

    Tax function of tomorrow: Automation and digitisation

    April 27, 2016

    Picking up on where we left off in the last installment, this issue of the Brockman Brief digs deeper into the tax function of tomorrow. Not only does an effective tax function depend on building the right skill-set, it must also include developing and making use of integrated technology and forming best practices.

  • Making plans: How tax planning is changing

    April 27, 2016

  • Post-Panama reflections: Black, white and grey lists

    April 27, 2016

    Poonam Khaira Sidhu, commissioner of income tax and joint secretary at the Indian Revenue Service – who holds a Michigan LLM in international taxation with a master’s in economics – reflects on tax competition, inequality, BEPS, information exchange and black, white and grey lists in the wake of the ‘Panama Papers’ leak.

  • Payal Tuli joins BMR’s indirect tax practice

    April 21, 2016

    Payal Tuli has joined BMR & Associates as a partner based in Gurgaon, India, moving from BMW India Private Limited.

  • Indian SC decision in Kotak provides clarity on ‘fees for technical services’

    April 06, 2016

    The Indian Supreme Court (SC) has ruled that transaction charges paid for online trading facility though the stock market do not constitute ‘fees for technical services’ (FTS) in a recent tax case involving Kotak Securities.

  • ELP gains disputes specialist

    April 04, 2016

    Dinesh Pednekar has joined ELP in Mumbai as an associate partner in the firm’s litigation and dispute resolution practice.

  • March 2016

    The Brockman brief: The (post-BEPS) tax function of tomorrow

    March 30, 2016

    The evolution of international taxation, driven by the OECD’s BEPS Actions, is eliciting new ways of thinking about the effective management of an internal tax function.

  • Q&A: Rosen Group: Talking tax in turbulent times for the oil sector

    March 30, 2016

    Carolina Graterol, global head of tax and transfer pricing at Rosen Group, discusses boardroom expectations and the evolving role of tax across the company’s other functions.

  • How patent boxes became the new normal

    March 30, 2016

    Since October 2015, authorities have been reacting to the outcome of the BEPS Project. The implementation of new legislation and adaption of existing regulations to match the new OECD guidelines has already begun to impact multinationals worldwide. The undeniable headline change has been a broad move to implement country-by-country reporting (CbCR); however the other policy that stands out from the crowd is in the area of patent boxes, as Joelle Jefferis explains.

  • Treaty shopping and BEPS Action 6: An Indian perspective

    March 30, 2016

    On October 5 2015, the OECD released its final reports under the BEPS project, which were presented to the G20 finance ministers on October 8 2015. Action 6 identifies tax treaty abuse and, in particular, treaty shopping, as one of the most significant sources of BEPS concerns. Pritin Kumar, Vishal Palwe and Heta Jhaveri of Deloitte provide an update on action to counter treaty abuse, from an Indian perspective.

  • FATCA and CRS: The end of an era

    March 30, 2016

    Sofia Stavridi, a Queen Mary University of London graduate now working in investment management tax services at a Big 4 firm in the UK, provides a refresher on FATCA and CRS, tracking the latest trends in global exchange of information, exploring the latest tax authority tools in this area and identifying what taxpayers can do.

  • Asia Tax Awards shortlists announced

    March 29, 2016

    The nominations for the Asia Tax Awards, which recognise excellence in tax advice to businesses in the region, are unveiled today.

  • India GST – Still alive despite lack of Budget prominence

    March 09, 2016

    While GST did not feature prominently in the February 29 Indian Budget, in a personal view Abhishek Shah explains why the prospects for GST have not diminished.

  • The tax transactional survey 2016

    March 09, 2016

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

  • PoEM – Changing the Indian tax landscape

    March 09, 2016

    Pinky Mehta, CFO of Aditya Birla Nuvo Limited and Rajeshree Sabnavis, partner at BMR & Associates, analyse recent developments around the constitution of a place of effective management (PoEM) in India, looking at how these developments tie in with global discussions on the theme of substance-over-form.

  • Reflections on India's Budget 2016

    March 02, 2016

    Budget 2016 has provided a big thrust to the development of the agricultural economy and infrastructure in India while bringing about contemporary tax reforms in line with international practices.

  • Taxation on e-commerce: International implementation

    March 01, 2016

    The international adoption of tax on digital services has made for differing legislations across jurisdictions, but a common trend is the move from supplier-based to destination-based taxation.

  • February 2016

    Budget presents Jaitley and Indian government with big opportunity

    February 25, 2016

    Dhruva Tax Advisors and International Tax Review will present an analysis of the Indian Budget shortly after it is announced on Monday.

  • Indian Budget - what tax changes can multinational companies expect?

    February 25, 2016

    Taxpayers, tax advisers and politicos alike are eagerly awaiting India’s 2016 Budget, which will be released on Monday [February 29]. Will BEPS be covered, and which Action Points will feature? Will there be an update on GST? What other indirect tax changes might there be?

  • EC moving away from OECD model on arm's-length principle

    February 08, 2016

    In its recent state aid rulings, the European Commission (EC) appears to have moved away from the OECD’s model treaty and transfer pricing guidelines.

  • Why India needs GST

    February 03, 2016

    Ritesh Kanodia and Geet Shah of Dhruva Advisors set out the arguments for a dual GST in India, and look at the obstacles that have stalled implementation so far.

  • Tax Accounting Leaders Guide 2016 – nominations now open

    February 02, 2016

    Who are the leading tax accounting and compliance advisers around the world? Make your nominations now.

  • Committee suggests improvements to New Delhi Income Tax Act

    February 01, 2016

    India's Income Tax Simplification Committee (ITSC) has recommended amending income tax laws, specifically the Income Tax Act (ITA), to make it easier to do business in the country.

  • The Cunningham column: Asian Budgets to focus on national over international tax

    February 01, 2016

    The Budget season is about to start in Asia. Ralph Cunningham believes finance ministers are likely to prioritise local or regional concerns rather than get involved in any deep discussions about base erosion and profit shifting.

  • The Brockman brief: Audit and risk transparency: Why it matters

    February 01, 2016

    ‘Transparency’ is the latest term of art that has emerged from the OECD’s Action Plan with respect to its base erosion and profit shifting (BEPS) initiatives. But the obvious question that has consciously been ignored in the public domain is: where are the matching transparencies regarding determination of tax risks and identification of substantive issues by tax authorities upon commencement and conduct of an audit?

  • Why international tax treaty networks are an Animal Farm

    February 01, 2016

    Fred Lo, vice president and global head of tax at Yanfeng Global Automotive Interiors, a joint venture between the automotive interiors businesses of Johnson Controls and Shanghai Motors, analyses recent tax treaty trends, focusing on mismatches in treaty terms and why some countries are more equal than others.

  • India: India releases draft report on Income Tax Act simplification

    February 01, 2016

  • Indonesia: Indonesia to optimise tax revenue and separate tax authority from the Ministry of Finance

    February 01, 2016

  • January 2016

    Cairn seeks $600 million in damages from Indian government

    January 20, 2016

    Scottish oil company Cairn Energy has announced that it will seek at least $600 million in damages from the Indian government over its lengthy tax dispute.

  • Nishith Desai opens Park Avenue office

    January 07, 2016

    Nishith Desai Associates, the Indian law firm, has opened an office on Park Avenue in New York.

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