Intellectual property (IP) is one of the most debated tax topics in India. The increased examination and monitoring of IP transactions has resulted is the problem of double taxation. Shivam Mehta and Kapil Sharma of Lakshmi Kumaran & Sridharan scrutinise the applicability of service tax on IP transactions and highlight the issues regarding multiple taxation of IP under various statutes prevailing in India.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year