As the GST dream continues to be elusive, I expect this Budget to be a good example of “showing action” in existing central laws. I am sure this will be aligned to the introduction of GST, probably advancing the introduction of changes, which otherwise could have waited.
Personal taxes, a part of the direct taxes in India, have gone through many major changes throughout the period, since the implementation of the Income tax Act (ACT) in 1922. The Act was given an overhaul in 1961, which stands amended till date. Personal taxes are charged on a slab-rate basis. These slab rates and … More The trend of change in personal tax in recent years
In 2015, there were exceptional changes in the global tax landscape — Base Erosion and Profit Shifting (BEPS) discussion drafts turned into final recommendations with many jurisdictions already legislating on a unilateral basis in anticipation of final recommendations. Across the globe, new and sometimes highly novel national legislation was released to address BEPS challenges. The … More Budget 2016 – what does it entail from BEPS perspective
The NDA Government’s second Union Budget is coming at rather interesting crossroads, from the point of view of international taxation. On one hand, there is persistent reinstatement of efforts toward having a non-adversarial tax regime; while on the other, legislative enforcement of the OECD Base Erosion and Profit Shifting (BEPS) recommendations, which have changed the … More Union Budget 2016-17: decoding the Government’s stand on cross-border taxes