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  • The recently released concept paper on taxation of services based on the Ministry of Finance’s negative list concept has evoked mixed reactions from industry. This is an important development and while industry has lauded the move towards a comprehensive and simplified service tax regime, Harishanker Subramaniam of Ernst & Young explains that there are strong views on the timing of its implementation and its impact on certain sectors.
  • Vispi Patel and Rajesh Athavale of Vispi T Patel & Associates explain how recent judicial rulings throw light on different aspects of transfer pricing and offer guidelines to taxpayers on the way to mitigate transfer pricing risk in India.
  • India’s domestic tax law follows residency-based taxation rather than source-based taxation. For an Indian tax resident, worldwide income is taxable in India. The residential status thus impacts the scope of income liable to be taxed in India. K Subramanian and S Anantha Padmanabhan of Deloitte analyse the challenges taxpayers will face once the place of effective management concept is introduced.
  • Opinions are divided on whether the Direct Taxes Code (DTC) will be implemented on April 1 2012 or whether it will be ripped up and the least controversial aspects introduced quietly in the Finance Bill. One thing is for sure, change is on its way. Jack Grocott speaks to tax professionals to ask for their advice on how to prepare for the change.
  • Taxpayers, officials and advisers came together on September 6 & 7 to discuss all aspects of India’s tax system at International Tax Review’s second annual India Tax Forum in Delhi.
  • India’s environmental tax system is still young and undeveloped, but Salman Shaheen looks ahead to see what the future might bring, what it will mean for taxpayers and how best to use tax policy to ensure sustainable growth.
  • In September foreign IT companies were attacked by the Indian media for the low profits they are booking in the country, compared to domestic firms. Practitioners warn, though, that it is not as cut-and-dry as it seems. Sophie Ashley speaks to the high-tech industry to find out more about the problems they are facing and how they operate efficiently in India.
  • Gupta believes the decision could have gone in favour of the taxpayer
  • Google is under audit in the US following reports it uses transfer pricing to reduce its overseas effective tax rate down to just 2.4%.
  • The European Court of Justice (ECJ) has delivered its judgement in a case concerning the supply of land for development purposes which emerged from uncertainties in Polish VAT law after the country joined the EU.