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 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