India’s Ministry of Finance has put a new competent authority in place and announced that the government is keen to provide a suitable mechanism for resolving tax disputes with foreign multinationals. Advisers say the government may finally be backing up Minister of Finance Palaniappan Chidambaram’s rhetoric on attracting foreign direct investment (FDI) with some concrete action.
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KPMG Netherlands’ former head of assurance also received a permanent bar and $150,000 fine; in other news, asset management firm BlackRock lost a $13.5bn UK tax appeal
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