B Sriram, Tax Partner, EY India This Budget will be presented against the backdrop of two key events: demonetization and the implementation of the Goods and Services Tax Act. First and foremost, the most eagerly watched expectation would be the roadmap for GST implementation. Pursuant to the recently concluded GST Council meeting, the FM has … More Union Budget 2017: considerations for indirect tax proposals
The year 2016 witnessed a rapid movement of the OECD-G20 BEPS project to the implementation phase, leaving a fundamentally changed landscape in its wake. Now that all the key instruments for BEPS implementation have been released by the OECD, countries are legislating and/or providing more clarity on how they will implement BEPS measures so that … More Budget 2017: what international tax may have in store for you!
With an ever-evolving global taxation landscape, it has become essential to be in sync with the changing rules and regulations. The OECD BEPS global tax agenda has led to various countries proposing/implementing changes in their local laws to align with the themes laid out in the BEPS Action Plans. Recently the OECD released the text … More The road to counter BEPS
Globalization has brought about a boom in the movement of employees to different countries to acquire specialized technical skill and expertise. Over the years, we have seen organizations coming out with various assignment models to send their employees abroad. This trend offers many benefits to employees apart from bolstering their career and creating an international … More Global mobility and evolving changes
Buyback tax (BBT) provisions were introduced in the Income Tax Laws (ITL) in 2013 to check tax avoidance by unlisted companies, which resorted to buyback of shares instead of dividend distribution, particularly where the buyback distribution proceeds were tax-exempt for overseas shareholders under the treaty network. BBT is payable by domestic unlisted companies in the … More Taxation of buybacks by unlisted companies: a step toward greater clarity?
India’s GST journey is in its critical phase with GST Council debating important issues like rate structure, administrative ease and GST law. Multiple rate structure is the pragmatic way forward, and aligned to what CEA report indicated. While debate around what will fall in which rate basket continues, it’s important we have consistent classification across … More ‘Avoid cess, increase GST peak rate’
India is on the verge of going live with the long over-due indirect tax reform, the introduction of Goods and Service Tax (GST). Despite certain delays, the Constitutional Amendment Act which empowers the Center and State to simultaneously tax the same transaction was enacted in September 2016. In the run-up to the target date of … More Can GST effectively guide the e-commerce package?