The report of Parthasarathi Shome and his expert committee, which recommended that retrospective application of the tax law should only be used in the “rarest of rare” cases has been welcomed by taxpayers craving certainty in their Indian tax affairs. International Tax Review speaks with the author about the likely implications of his report.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
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