This Virtual Series provides an update on CRS implementation from a range of jurisdictions in which IR Global tax experts are currently operating. This discussion involves IR Global members from India, Spain, Luxembourg, New Zealand and Lebanon. The discussion touches on whether CRS has caused any conflict or tension during implementation, given issues such as the LuxLeaks Scandal and Lebanon’s entrenched banking secrecy and also whether CRS has affected advice…
Read MoreClarification for implementation of GAAR
The Income tax Act (ITA) contains anti-avoidance provisions in the form of General Anti-Avoidance Rules (GAAR) which provides wide powers to Tax Authority to deal with impermissible tax avoidance arrangements. The GAAR provisions under the ITA are effective from tax year 2017-18 Pursuant to Industry associations requesting for clarification on implementation of GAAR provisions, CBDT has issued a Circular providing 16 clarifications in Q&A format and a Press Release of…
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