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Global Tax 50 2015: Akhilesh Ranjan
Competent authority, India
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| Akhilesh Ranjan is a new entry this year |
As the Global Tax 50 2013 entry for Akhilesh Ranjan points out, the man cannot help being influential by virtue of his role as Indian competent authority. But 2015 saw the influence of Ranjan – joint secretary, foreign taxation, in the Ministry of Finance – increase further for two main reasons.
First, India continued to focus policy on attracting investment. This is good news for foreign investors and government revenues alike, and is already triggering greater interest in business expansion in the country from overseas investors, but the flipside for Ranjan is that any resulting treaty issues may land on his desk.
Second, Ranjan took the lead role for India in the BEPS Project. Following from this, Ranjan has established a committee to analyse what India should do in response to digital economy concerns highlighted under BEPS processes; and has confirmed that India will introduce legislation for country-by-country reporting (CbCR) for FY 2016-2017 onwards.
With so much reform action on the horizon, Ranjan can expect to be kept busy for the remainder of his five-year term as competent authority, which began in 2013.