Forthcoming changes to Indian tax law, such as the introduction of the Direct Taxes Code in 2012, and amendments to the use of limited liability partnerships for foreign direct investment, mean that taxpayers will have to rethink how they traditionally have dealt with tax planning for holding companies in India, believe Srinivasa Rao and Rajendra Nayak of Ernst & Young
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The EU defended its ‘sovereign right’ to impose the tax in the face of US tariff threats; in other news, the US deputy Treasury secretary resigned after just five months
Major economies have expressed concerns, with China arguing a US global minimum tax exemption would be a violation of the principle of fair competition – ITR understands
Senator Richard Colbeck told ITR he was concerned by the decision to let PwC Australia tender for government contracts again after a scandal-induced ban
The tax technology company will be providing a free demonstration of its OTP software and offering best practice advice on whether to ‘buy or build’ on September 8