Management of taxes in India is a complex proposition, despite government attempts to assure foreign direct investors and Indian companies that it wants to create a stable and predictable tax system.
Despite the favourable – to taxpayers - Supreme Court judgment in the Vodafone case in January 2012, large businesses still cannot predict with any certainty how the tax authorities will treat their arrangements. The government’s response to the judgment was to insert retrospective amendments, giving it the right to claim tax on the indirect transfer of shares in Indian assets, into Finance Bill 2012. This reaction has meant that 18 months after the judgment the issues in the case have not settled down.
Fortunately, as it turned out for taxpayers, the government also set up the Shome Committee to look into the application of retrospective amendments, which as many have pointed out have been a feature of Indian tax policy for many years. This committee decided that they should only be used in the “rarest of rare cases”.
Tax in India has not stood still since the Vodafone judgment. The general anti-avoidance rule (GAAR) has been postponed until at least April 2015; it is believed more than 150 applications have been made under the new advance pricing agreement (APA) regime and the courts and tribunals have delivered controversial decisions in cases such as Sanofi and LG India.
International Tax Review’s fourth India Tax Forum brought together leading tax directors, officials and advisers to discuss these issues and help delegates to prepare for forthcoming changes. How multinationals can achieve certainty, tax dispute resolution and the impact of the 2014 national elections on tax policy were four of the key talking points over the two days of the conference.
The foremost Indian tax specialists tackled these issues and more. It is a unique opportunity to hear their views, increase your understanding of the upcoming changes, learn how best to prepare for the future, and gain practical insight into how the performance of your tax department can be enhanced over the next 12 months.
Benefits of attending:
- Find out how tax risk management can create and maintain a healthy relationship with the authorities
- Understand what you need to do to prepare for the introduction of the GAAR in 2015
- Learn how you can achieve the right outcome in tax controversy
- Develop the best structure for your M&A activity
- Inform yourself about the international tax developments that will affect outbound investment
- Increase your knowledge of the debate concerning substance over form
- Hear from leading tax professionals on Indian corporate, international and indirect tax
- Figure out how modifications to GST will affect its implementation