The Indian Central Board of Direct Taxes has issued draft safe harbour rules that provide taxpayers with a margin under which their transfer prices would be automatically accepted by the tax authorities. However the safe harbour margins for contract R&D services and knowledge process outsourcing may be too high to become popular with taxpayers, advisers say.
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Like medicine, tax is an evolving science. Norah Al Khalaf explains how tax policies have changed across the member states of the Gulf Cooperation Council and what tax departments should prepare for next.