As reported in a recent issue of Tax Notes International, employees of foreign employers temporarily assigned to work in China may face additional tax liabilities with respect to such arrangements after new guidance becomes effective on June 1, 2013.
The new policy will impact the tax cost of Home Entities and the structuring of international assignment arrangements.
The Revenue authorities in India have been seeking to benchmark the increased Advertisement, Marketing and Promotion ('AMP') expenses incurred by the Indian subsidiaries of global multinationals ('MNEs'), contending it to be services rendered to the foreign AEs by creating marketing intangibles in India, which are legally owned by them.
A discussion on what extent can transfer pricing provisions be attracted to cross-border investments in Indian subsidiaries.
We have entered into a new era of education, wherein instead of students heading abroad for pursuing their dream courses, Foreign Universities are offering such courses in India.
Prepayment charges paid for early closure of loan, whether to be allowed as deduction under the Incometax Act, 1961 or not?
Stamp duty is a very important factor in structuring transactions, specially with many of the states in India imposing high stamp duties on documents to shore up their revenues.
Service tax is one of the indirect taxes, where the service provider is required to collect tax on the services rendered by him and deposit the same with Government.
It is often a topic of dispute amongst the various judicial authorities that whether the high end educational institutions, especially schools, providing modern and equipped educational aids, maintaining the highest standards of hygiene, offering air-conditioned classroom, buses etc. are involved in activities which are charitable or commercial in nature.
The Indian government has, in the recent past, introduced a mandatory requirement of furnishing Tax Residency Certificate, for non-residents seeking tax treaty benefits.
This year while presenting the Budget, the Indian Finance Minister observed that the Tax Residency Certificate certifies that an entity is a resident but it does not certify that it is a beneficial owner.
At a time when the contours of business are undergoing major transformations on account of technological advancement across the world, issues such as those deliberated by the Kolkata Tax Tribunal in ITO v. Right Florists Limited1 were bound to arise.
The Indian Finance Minister presented the annual budget for 2013/2014 on 28 February 2013.
A recent judgment of Delhi high court in the case of CIT v. Gita Duggal tries to clarify the applicability of levy of capital gains on such transaction.