The main focus of the BEPS Action Plan 5 issues in October 2015 was on agreeing and applying a methodology to define the substantial activity requirement to assess preferential regimes, looking first at intellectual property (IP) regimes and then other preferential regimes. The work has also focused on improving transparency through the compulsory spontaneous exchange of certain rulings that could give rise to BEPS concerns in the absence of such…
Read MoreEvolving tax reforms: Bane for exporters by Suraj Nangia
Rapidly changing domestic tax environment to get in sync with international tax developments like BEPS, could have some fall outs that may impact general business environment as a whole. One such aspect is the changes sought in taxing regime both at the domestic tax as well as international tax front that could potentially interfere with the exports. Suraj Nangia, Partner and Neha Malhotra, Executive Director contributed an op-ed piece on…
Read MoreSuraj Nangia, Partner features in Virtual Round Table Series Tax Working Group 2018 conducted by IR Global – UK
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 MoreMultilateral Instrument- Changing Landscape of Cross Border Transactions
Way back in 90s, globalisation and opening-up of the economy changed the manner in which the businesses were conducted. With passage of time, businesses environment became more uncertain and thus dynamic. Multinational Corporations (‘MNCs’) devised strategies to efficiencies in their tax bill as well. However, loss of revenue led to the convergence of the governments worldwide to bring turnaround changes in the taxation laws. One such measure is the Multilateral…
Read MoreScope of GOOGLE TAX to be enlarged?
Surprisingly there was no mention during the Budget 2017 on increasing the scope of equalisation levy. However, there is some indication that the government does plan to increase the scope of the levy. Under the new definition, the government is looking at a 6% tax levy on all online multinational companies that earn revenue from India. Equalisation levy, colloquially called Google tax, could soon ensnare the likes of IBM, Microsoft,…
Read MoreUNION BUDGET 2021
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