Family owned businesses have been among the oldest and few of the most thriving businesses. Some of the largest and oldest corporations in the world – [Takenaka Corporation, Merck, Wendel, Franz Haniel, Molson Coors Brewing, Jeronimo Martins and Thomson Reuters] to cite a few, have emanated out of family owned, controlled and managed businesses. Over … More Family governance: – A mirror, sword and shield
Of the various “no tax evasion” objectives of the pre-GST regime, the requirement of state permits for the movement of goods into various states has been adopted by the GST law as well. The GST law has contemplated the requirement of a document, the E-Way Bill, for any movement of goods exceeding a consignment value … More E-Way Bill: A vital piece of the GST jigsaw
Changes are made to the Income tax return (ITR) forms almost every year with the intent of collecting more information and also simplifying the compliance for taxpayers. The Finance Minister has time and again mentioned the need for expanding the taxpayer base and fighting tax evasion. With technology playing the role of an enabler, the … More New ITR forms: Get ready to share more details in your tax return
More controversy expected As Indian companies breathed a sigh of relief after meeting the first compliance deadline of filing of Country-by-Country report (CbCR) and Master File (MF), what could lie ahead is more controversy and questioning from tax authorities as they gain access to new sources of information and increased transparency across the globe. This … More Is a surge in TP controversy post the MF and CbCR filing likely?
Global mobility is a dynamic arena that often throws up new challenges for even the most seasoned professionals. However, one question that has been around for a long time is: Can employers consider tax treaty relief while determining withholding taxes for their employees? While there are strong technical arguments in favor of considering the tax … More The winds of change have begun to blow. Are you set to claim tax relief at tax withholding stage?
Union Budget 2018 is going to be the last full-year budget before the upcoming Lok Sabha Elections in 2019 and therefore there is a lot of speculation that it will be a populist budget. However, in an interview on 24 January, Prime Minister Narendra Modi gave indications that his Government will stay the course of … More Budget 2018: Transfer pricing expectations
The present corporate tax rate in India and dividend distribution tax (DDT) together account for around 46%—50% of the effective tax rate for domestic companies. With the recent amendment to US tax laws, resulting in the reduction of corporate tax from 35% to 21%, India may be under greater pressure to reduce the tax burden … More Budget 2018: DDT – Will it be abolished?