Delivering his first Budget speech today, Arun Jaitley, India’s new finance minister, pledged to maintain a stable tax environment, but disappointed multinational taxpayers by not removing rules on retrospective tax. Indeed, while the majority of the finance minister’s proposals sound business-friendly enough, taxpayers would have liked more concrete detail.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort