Deloitte India Tax webcasts 

Buyback of shares: Key considerations | 4 May

With the rapidly evolving COVID-19 scenario, financial markets are in flux resulting in unprecedented volatility. There has been a sharp decline in Indian stock markets over the past few weeks. During these times, some companies may be looking at buy back of shares in the light of the recent developments.

Please join us for a webcast that will give an overview of the aspects involved in buyback of shares and the relevant practical considerations, including deliberation on the contributions by the participants during the webcast.

An eminent speaker from the industry will also share his views on the topic.

Recent India tax and regulatory environment and updates | 28 April and 30 April

The Indian Finance Bill, 2020 has been passed by the Parliament as Finance Act, 2020 with a few significant changes.

In addition, owing to the disruption caused by COVID-19, the Government of India has announced a number of tax and regulatory measures to provide relief to companies and individual tax payers (including expatriates).

We invite you to join us for a series of webinars scheduled for 28 and 30 April 2020. We will discuss the current environment along with updates. These sessions will be in Chinese language.

Agenda for 28 April:

Key amendments under Finance Act, 2020 from corporate and personal taxation perspective
Tax and Regulatory measures taken by authorities to relieve the compliance and cash flow burden of tax payers
Mobility and other related considerations for employees (including expatriates)
Join us for the important updates, and prepare for what's next.

India Finance Bill Amendments and reliefs announced to combat COVID-19 | 27 March

Host: Shefali Goradia
Presenters: Vijay Dhingra and C.A. Gupta

The India Finance Bill, 2020 that was presented in the Parliament has been passed with some very important changes. In addition, in view of the disruption caused on account of the COVID-19, the Indian Finance Minister on 24 March 2020, announced a number of tax measures to provide relief to tax payers, for example, the extension of various due dates including under the Direct Tax Vivad se Vishwas Act, 2020. We'll discuss:

• Major changes proposed in the Finance Bill, 2020.
• Equalization levy on certain digital transactions.
• Tax reliefs proposed as a part of the various measures to combat COVID-19 including the implications under the Direct Tax Vivad se Vishwas Act, 2020.

Join our Deloitte specialists to learn more about the important updates on the India Finance Bill and prepare for what's next.

Tune in to the recording here.

The Direct Tax Vivad se Vishwas Bill 2020: Decoding the rules | 18 March

“The Direct Tax Vivad se Vishwas Bill, 2020” (“the scheme”) is likely to receive the President’s assent today.

Under the scheme, a taxpayer can settle a litigation pending before any forum, as on 31 January 2020, by paying the tax on the disputed income and get a full waiver of interest and/or penalty.

The government has issued answers to Frequently Asked Questions and is expected to announce the rules today.

Please join us for the webcast along with the government representatives to address doubts on the matter.

Speakers for the session

• S K Gupta, Principal Chief Commissioner of Income Tax, Mumbai
• Geetha Ravichandran, Chief Commissioner of Income-tax (International taxation), West Zone
• Deloitte India Subject Matter Experts

Vivad se Vishwas scheme | 11 February

Considering the current pendency of over 4,80,000 cases at various Direct Tax Appellate Forums, the Finance Minister tabled ‘The Direct Tax—Vivad se Vishwas Bill 2020’ before the Parliament on 5 February 2020. This is indeed a welcome step to reduce the burden of pending litigation in India. Taxpayers may preferably analyse their appeals and decide whether they wish to avail the scheme.

We have organised a panel discussion through a webcast on ‘Vivad se Vishwas scheme’. This session will throw light on the critical nuances of the scheme and also discuss some issues which need further clarification from the government.

Our subject matter experts for the session are:

• Ashutosh Dikshit
• Karishma Phatarphekar
• Vishal Kalra

G20/OECD The digitalized economy and beyond - outline architecture for an international framework | 3 March

The G20/OECD Inclusive Framework continues to develop the technical aspects of proposals, including the allocation of taxing rights between countries (Pillar One). All businesses, not just those that are highly digitalized, will need to understand how the proposals could affect them. Countries are working towards reaching a consensus-based solution by 2020. What might these changes mean for your organization? We'll discuss the January 2020 Statement on the outline of the architecture for an international framework, including:

• Scope and threshold
• Nexus rules
• Profit allocation rules
• Next steps

Tune in to the recording here.

Vivad se Vishwas scheme | 11 February

Considering the current pendency of over 4,80,000 cases at various Direct Tax Appellate Forums, the Finance Minister tabled ‘The Direct Tax—Vivad se Vishwas Bill 2020’ before the Parliament on 5 February 2020. This is indeed a welcome step to reduce the burden of pending litigation in India. Taxpayers may preferably analyse their appeals and decide whether they wish to avail the scheme.

We have organised a panel discussion through a webcast on ‘Vivad se Vishwas scheme’. This session will throw light on the critical nuances of the scheme and also discuss some issues which need further clarification from the government.

Our subject matter experts for the session are:

• Ashutosh Dikshit
• Karishma Phatarphekar
• Vishal Kalra

FDI policy changes: The way forward | 28 January 2020

Governments across the globe have begun to take cognizance of the benefits that FDI brings in; boost of economy, human resource development, surge in exports, and supply chain improvement, to name a few. Today, India thrives to ride the wave of development alongside its peers and establish itself as an advantageous ally for collaborations synonymous to growth.

There is much optimism around the recent FDI policy changes announced by the Union Cabinet of India, as it is expected to attract FDI investments in the Manufacturing and Retail sector.With the potential upside, it is also important to have a clear understanding of the complex tax implications that the changes and the resulting investments can entail.

Are you up to speed on the recent changes announced by the government?

Have you assessed how this may impact your business now or in the near future?

Have you taken a 360-degree view on the potential implications?

We are delighted to invite you to a webinar that will help you address these questions and take a deeper look at the matters that matter – to you and your organisation.

Agenda

• Introduction (5 minutes)
• Guest speaker (30 minutes)
  – Invest India
  – Industry Speaker
• Insights session (20 minutes)
  – Nuances in FDI Policy
  – Typical business models being used by global retailers 
• Q&A session (5 minutes)

We look forward to your participation in the webinar.

FDI policy changes: The way forward | 28 January 2020

Governments across the globe have begun to take cognizance of the benefits that FDI brings in; boost of economy, human resource development, surge in exports, and supply chain improvement, to name a few. Today, India thrives to ride the wave of development alongside its peers and establish itself as an advantageous ally for collaborations synonymous to growth.

There is much optimism around the recent FDI policy changes announced by the Union Cabinet of India, as it is expected to attract FDI investments in the Manufacturing and Retail sector.With the potential upside, it is also important to have a clear understanding of the complex tax implications that the changes and the resulting investments can entail.

Are you up to speed on the recent changes announced by the government?

Have you assessed how this may impact your business now or in the near future?

Have you taken a 360-degree view on the potential implications?

We are delighted to invite you to a webinar that will help you address these questions and take a deeper look at the matters that matter – to you and your organisation.

Agenda

• Introduction (5 minutes)
• Guest speaker (30 minutes)
  – Invest India
  – Industry Speaker
• Insights session (20 minutes)
  – Nuances in FDI Policy
  – Typical business models being used by global retailers 
• Q&A session (5 minutes)

We look forward to your participation in the webinar.

Transfer pricing and GST implications for brand equity payments | 21 January 2020

Brand equity is a significant business driver, created over a period based on consumers perception and trust in the standard and quality of the products or services. Multinational enterprises (MNEs) leverage on the established brand equity, trademarks, and other marketing intangibles to maintain its competitiveness in the market. Group affiliates to reap the benefits of the competitive advantage make payment for brand royalty to the MNE headquarters. OECD transfer pricing guidelines 2017 recognises the importance of marketing intangibles and allows arm's length payment for the use of intangible if it results in generating profits for the business. Questions have also been raised by the tax authorities' in many MNE headquarters' tax jurisdiction on non-charging or under-charging for the brand from their group affiliates. We'll discuss:

• The emerging tax controversy areas encompassing both transfer pricing and indirect taxation.
• The relevant OECD transfer guidance on marketing intangible, prevailing business models for brand royalty payments, and emerging transfer pricing and GST tax controversies.
• Key considerations and take-away.

Join us to understand the challenges and implications of brand equity payments and explore actions your business can take to prepare.

Tune in to the recording here.

E-invoicing and new GST returns | 14 January 2020

The Government has announced 1 April 2020 as the date of implementation of the e-invoicing system and new returns.

Over the past few months, we have seen concept papers, presentations, FAQs, and schemas being released by the GSTN clarifying several aspects of the proposed mechanism. In fact, the APIs for e-invoices have been released on 7 January 2020 in the sandbox and we at Deloitte have worked towards creating a modular yet comprehensive, on-demand solution to meet the e-invoices requirements along with changes in the GST compliance process through new returns.

Though, initially, the e-invoicing scheme aims to cover large business houses with a turnover of more than 100 Crores for their B2B supplies, the umbrella is set to be broadened over a period of time.

With the above background and to help you navigate through this paradigm shift, Deloitte invites you to join the e-invoicing webcast scheduled on 14 January 2020.

The session will cover an update on e-invoicing topics such as the following:

• Understand the nitty-gritty of the proposed e-invoicing system and new returns including list of interfaces and the proposed methodology of interface with the Invoice Registration Portal (‘IRP’), and carry out compliances through new returns
• Walk-through of the latest key clarifications, updates provided by the Government
• Demo of Deloitte’s solution
• Q&A

Our Subject Matter Experts for the session are:  

• Mahesh Jaising
• Jaskiran Bhatia
• Atul Gupta
   

Social Security Code and allied laws | 20 December 2019

The Government of India has embarked on a mission to simplify and consolidate 44 different labour legislations into four new statutes. The Code on Social Security, upon receiving cabinet approval has just been tabled in the Lok Sabha.

Given the potential impact on the industry, we are delighted to invite you to this webinar that will share key insights on the Code on Social Security, how it compares with the eight subsumed statutes, what are the areas of concern and possible way forward for employers in India. The insights would assist companies to get into a state of preparedness through evaluation and identify the possible corrective action steps.

The session will also provide an overview of the other three labour codes that are at various pre-legislative or enforcement stages viz.

•  Code on Wages;
• Code on Industrial Relations; and
• Code on Occupational Safety, Health and Working Conditions

Our Subject Matter Experts for the session are:

• Tapati Ghose, Global Employer Services
• Saraswathi Kasturirangan, Global Employer Services
• Radhika Viswanathan, Global Employer Services
  

Global payroll: A consolidated approach to manage tax and payroll risks, powered by technologies | 5 December 2019

Globalization is making organizations increasingly borderless. Not only would business travelers create additional employment tax and payroll reporting requirements, the payroll operations itself is also shifting to a global or regional model. Is your organization able to keep up with the complex regulatory changes? We'll discuss:

• How the increasing trend of business travelers is heightening the challenges on employment tax and payroll reporting.
• How should organizations prepare before shifting payroll operations to global to ensure achievement of objectives.
• Payroll vendor management and how it helps mitigate payroll risks.
• How technologies enable proactive management of payroll risks and set your organization apart from others.

Gain insights from Deloitte professionals on how your organization can keep on top of the latest employment tax and payroll trends and apply them to your company.

Tune in to the recording here.

International Financial Services Centre (IFSC): New financing opportunities in India | 28 November 2019

The Gujarat International Finance Tech-city (GIFT) SEZ, is India's first International Financial Services Centre (IFSC) and has been conceptualized as an global offshore financial and IT services hub, a first of its kind in India, designed to compete with other globally benchmarked financial centers around the world. The Indian Government has recently taken several major policy initiatives and tax reforms to boost the attractiveness of operating in the IFSC. We'll discuss:

• An overview of the legislation under which the IFSC operates.
• How it impacts, in particular, the financial services business.
• What are the competitive tax (both direct and indirect) advantages that are now available to financial services businesses.
• How does the structure proposed compare with other international offshore regimes.
• What's next. 

Stay informed about the latest developments on the IFSC in India and their potential effects on your organization.

Tune in to the recording here.

Implications of the Corporate tax rate cut | 24 October 2019

To promote growth and investments in the Indian economy, the Government has made several amendments in its tax laws on 20 September 2019, that are effective immediately. Landmark changes have beeintroduced in the form of steep reduction in the corporate tax rates both for companies engaged in manufacturing activities as well as non-manufacturing activities provided they forego any tax incentives or reliefs that they have been availing hitherto. Some of these choices are irrevocable options. There are related deferred tax and accounting issues that may also have significant reporting implications as these options are availed. It is imperative that taxpayers evaluate their tax positions in light of the reforms and the choices to elect or not to elect or the timing of election for the revised tax provisions.

We discussed:

• The new concessional tax regime for domestic manufacturing companies.
• The new concessional tax regime for companies in general.
• Change in tax rates or surcharge, related implementation and reporting issues arising from these

Join us in this session to keep on top of India’s changing tax laws and their potential implications on your organisation.

WTO report on exporters | 7 November 2019

As an outcome of the United States' challenge of alleged export subsidies provided by India, the WTO, in its report on 31 October 2019, has recommended the withdrawal of prohibited subsidies under DFIS, the EOU/EHTP/BTP schemes, EPCG scheme, MEIS, and the SEZ scheme by India.

We are delighted to invite you to a webinar that will share key insights on what this important development means for exporters in India. The session will also cover an update on other key customs and trade compliance-related topics such as the following:

• Scheme for remission of duties or taxes on export products in place of MEIS
• Proposals around the overhaul of the SEZ scheme
• Manufacturing under bond, for domestic and export markets
• AEO updates and trends
• Expectations from the upcoming Free Trade Agreement

The speakers are:

• Mahesh Jaising, Indirect Tax Leader, India
• Payal Tuli, Indirect Tax Partner, Singapore
• Helen Cousineau, Director – IT GTA, Chicago

G20/OECD: Tax challenges of the digitalised economy - an update | 31 October 2019

The G20/OECD Inclusive Framework on BEPS continues to develop the technical aspects of proposals, including a unified approach on the allocation of taxing rights between countries. The fundamental nature of the proposed reforms will, if agreed, have a broad and significant impact. All businesses, not just those that are highly digitalized, will need to understand how the proposals could affect them. Countries are working towards reaching a consensus-based solution by 2020. We'll discuss:

• Nexus rules.
• Profit allocation rules.
• Next steps.

Gain insights on the latest developments arising from this work and steps multinationals can take to prepare for the future. 

Tune in to the recording here

India Taxation Laws (Amendment) Ordinance, 2019 | 3 October 2019

With the objective of promoting growth and investments in the Indian economy, India has made several amendments in its tax laws on 20 September, effective immediately. Landmark changes have been introduced in the form of steep reduction in the corporate tax rates both for companies engaged in manufacturing activities as well as non-manufacturing activities provided they forego any tax incentives/reliefs that they have been availing hitherto. The much anticipated roll back of the enhanced surcharge on Foreign Portfolio Investors as well as grandfathering of buybacks by listed companies from the applicability of buyback tax for buyback announcements prior to 5 July 2019 have also been made. It is imperative that taxpayers evaluate their tax positions in light of the reforms and the choices to elect or not to elect for the revised tax provisions. We'll discuss:

• The new concessional tax regime for domestic manufacturing companies.
• The new concessional tax regime for companies in general.
• Change in tax rates/surcharge.

Learn about how India's tax laws are changing and explore actions your business can take to prepare.

Tune in to the recording here.

Europe immigration – Trends and developments | 18 September

This webcast will be presented by Deloitte subject matter experts from India and Europe.

Global and Indian multinationals have been increasingly transferring their resources from India to Europe. We are also observing increased intra-Europe movement of this talent.

Political developments, complex business environment and regulatory changes are resulting in new requirements in immigration regulations, more stringent visa approval processes and stretched processing timelines, which is in turn affecting the resource deployment. Employers in the meantime, face the added responsibility of tracking their employees’ movements across European countries.

Our speakers will specifically address:

• Brexit and related aspects
• ICT Permit and intra EU mobility
• Posted Worker Directive
• Evolving destinations within Europe in light of the above
• Specific considerations, if any for Indian nationals

Reinventing organizations to create value: Insights from Deloitte's 2019 Human Capital Trends Report | 17 September

A shift is underway as businesses go beyond corporate responsibility to become social enterprises, actively listening to the world around them to better understand and support their stakeholder networks. With a unique blend of cultures and practices in Asia, what trends are unfolding and what steps are companies taking? We'll discuss:

• Changes in the workforce, workplace, and the nature of work itself.
• New applications of mobile and digital technologies and their impacts on organizations.
• The growing demand for HR leaders and teams in Asia to be effective partners to the business.
• Potential implications of these trends for organizations and individuals.

Gain insights from Deloitte professionals on how your organization can keep on top of the latest HR trends and prepare for what's next.

Tune in to the recording here.

Significant rulings under GST: Story so far and what lies ahead | 12 September

Anti-profiteering and advance ruling, two key limbs of the Goods and Services Tax (GST) framework, are perhaps the most debated and deliberated topics at present. 

While advance ruling assumes significance in the context of providing clarifications to ambiguities that taxpayers might have in relation to the new tax reform, the concept of anti-profiteering has been made part of India's indirect tax regime for the first time. Recently, there has been a spate of rulings pertaining to both the subjects, and emergence of additional complexities and confusion for taxpayers at large. 

Certain adverse orders by the National Anti-Profiteering Authority have seen widespread dissension in light of absence of a well-defined legislative framework to govern anti-profiteering investigations. On the other hand, a series of advance rulings pertaining to issues such as inter-office services, intermediary services, employer-employee transactions seem to violate the basic provisions of the GST law, and have therefore not meeting the very purpose of providing clarifications to taxpayers. In addition, it is important to assess the rationale adopted by the authorities in the context of the said anti-profiteering orders and advance rulings, as the same may be applied in case of other taxpayers. We'll discuss:

• Key advance rulings and anti-profiteering orders.
• Methodology and rationale adopted by the authorities.
• Challenges to the relevant rulings and provisions.
• The way ahead for industry.

Keep up to date with the latest developments regarding advance rulings and anti-profiteering in India and how they may affect your organization.

Tune in to the recording here.

Asset Reconstruction Companies (ARCs): Tax and regulatory framework | 29 August

Asset Reconstruction Companies (ARCs) were introduced in 2002 in India as an attempt to provide a framework for effective resolution and recovery of stressed assets. However, the law remained riddled with litigation with no meaningful resolution of bad loans taking place under its aegis. The law itself has been evolving to make it a true resolution vehicle. However, with the introduction of The Insolvency and Bankruptcy Code, 2016 (IBC), the landscape has changed entirely. ARCs are now at the forefront of the resolution process and foreign investor interest is high. We'll discuss:

• Key regulatory changes in the ARC regime over the years.
• What has IBC changed and how ARCs fit in.
• Key tax and accounting aspects of transactions by ARCs and their trusts.

Tune in to our recording to stay up to date with the latest developments on the resolution framework in India.

Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - Uncovering the key aspects | 19 August

The Central Government’s amnesty scheme for resolution of legacy service tax and central excise disputes outstanding as on 30 June 2019 has become one of the much-talked-about announcements of the Union Budget 2019. It has created a buzz amongst tax fraternity and gained importance for the corporates because of the tax reliefs that it offers. With enactment of the Finance Bill 2019 recently, the Government paves the way forward for companies to take the benefits of the scheme. Flier and FAQs recently released by CBIC further simplifies the broader understanding of the scheme for general public. The scheme is expected to be notified shortly.

Broadly, the scheme will be attractive for companies with respect to following categories of tax disputes:

• Those considered not strong on merits
• Those where predictability of the outcome at a particular adjudicating or appellate level is unclear
• Those where amounts involved are not significant

The benefits under the scheme include the following:

• Waiver of interest and penalty
• Immunity from prosecution
• Partial tax relief on cases pending for adjudication or in appeal or under investigation and audit (where demand is quantified on or before 30 June 2019):
• Declaration of tax dues under the scheme will not be treated as a precedent for past and future liabilities
• Adjustment of pre-deposits already made in the matter

In short, this scheme offers scope for considerable reduction of tax costs besides waiver of interest and penalty. Further this helps the companies to reallocate resources locked in handling legacy issues to focus on GST management. The review of the scheme vis-à-vis pending disputes also assists in an overall review of disputes outside of the scheme, e.g., if proactive steps should be taken in conceding a dispute, paying an amount under protest.

All of the above and other nuances in the scheme have been discussed.

Evolution of regulations impacting inbound/outbound investments in China, India, and Vietnam | 1 August 2019

The business landscape is changing globally like never before. In order to keep pace with the dynamic market scenario, various countries are bringing necessary changes to the existing law or introducing new regulations relevant to the issues faced. We have also witnessed how countries have amended their local laws in line with the BEPS action plan. Countries across the globe are also working towards implementing MLI based on the aspects adopted. Given the various changes in laws, these are closely being considered by the investors prior to making any investment decisions across jurisdictions. We'll discuss:

• Various regulations that have been introduced which are critical to cross border investments.
• Overview of the impact that is witnessed in making business decisions.
• Key tax and regulatory considerations in relation to cross border investments.
• Practical case studies.

Tune in to the recording to understand the evolution of various regulations and its impact on investment activities across the region.

Double tax treaties in Asia Pacific: Updates and developments | 16 July 2019

We will review the important major developments relating to Asia Pacific double tax treaties, major case law and administrative developments concerning the interpretation of double tax treaties, and significant OECD/UN developments relating to double tax treaties. We'll discuss:

• The implementation of treaty-related BEPS recommendations and developments concerning the Multilateral Instrument in Asia.
• An update on the work undertaken by the United Nations Tax Committee.
• Important cases on treaty interpretation.
• Recent changes within the Asia Pacific treaty network.

Tune in to the recording to learn about the important developments in Asia Pacific in regard to double tax treaties and OECD/UN projects.

Germany−India: Transfer pricing controversy, dispute, and mitigation | 16 July 2019

This webcast was presented by Deloitte transfer pricing partners and tax experts (former representatives of the tax administrations) from both Germany and India.

Multinational groups in both Germany and India have been suffering from double-taxation issues for quite some time. The revised stance of the Indian tax administration offers new possibilities for resolving such cases. The webcast’s focus was to provide insights into the operational and procedural framework of competent authority proceedings through Mutual Agreement Procedure (MAP), and Advance Pricing Agreement (APA) to mitigate and resolve disputes.

In the webcast “Germany−India: Transfer pricing controversy, dispute mitigation, and resolution”, the practical experiences of our tax experts on the following key topics was discussed:

• Competent authority proceedings, including key processes, organisations, and interactions with tax authorities
• Dispute resolution with potential possibilities for MAPs, along with the eligible years, statute of limitations, and regulatory framework in both the countries
• Practical insights into a bilateral APA between Germany and India and conversion of the existing unilateral APA into a bilateral APA
• Experiences in dealing with MAP, roll backs, and roll forwards of APA with a focus on possibility, timing, and negotiation approach of the competent authorities
  

Tune in to the recording to know more.

BEPS and Indian domestic tax law: Increased exposure to a Permanent Establishment (PE) | 11 June 2019

Amending the Agency PE definition and reducing the tolerance level of the "preparatory and auxiliary" activities to avail exemption from a PE, are key aspects of the Base Erosion and Profit Shifting (BEPS) project and the Multilateral Instrument (MLI) proposals that followed. In addition to putting out its MLI positions to align with BEPS recommendations, India has also amended its domestic tax law which is more expansive in scope. While Indian Courts do consider international OECD/UN guidelines, the defence of companies against PE will need to be based on actual activities on the ground. We'll discuss:

• Certain typical situations such as the provision of marketing support services or commission models in relation to direct offshore sales of goods from outside India. 
• The PE exposure on account of inbound expatriate employee's presence in India from group companies.
• Practical case studies.

Tune in to the recording to gain insights on the significant developments concerning Indian domestic tax law along with treaties and how they may affect your organization.

Real Estate Investment Trusts (REIT) and Infrastructure Investment Trusts (InvITs): Taking stock and opportunities | 28 May 2019

In India, real estate investment trust (REIT) and infrastructure investment trust (InvIT) taxation regimes have been introduced to allow these structures (business trusts) to be set up in accordance with the SEBI (Real Estate Investment Trusts) Regulations, 2014 and SEBI (Infrastructure Investment Trusts) Regulations, 2014, respectively. While the regulations have been in place for some time, India has seen limited adoption of the regimes, particularly in the REIT segment. However, recent activity has rekindled interest in these taxation regimes. We'll discuss:

• An overview of the Indian regulations relating to REIT/InvIT taxation and their gradual evolution in India.
• Tax issues, practical insights, and potential solutions relating to the Indian regulations.
• Perspectives from Australia and Singapore.

Tune in to the recording to learn about the practical issues as well as possible opportunities in REIT and InvITs that your company may face going forward.

Profit Attribution - A move away from FAR? | 21 May 2019

Attribution of profits to a business connection and a permanent establishment under the mechanisms prescribed in Rule 10 and tax treaties, respectively, have been the subject of considerable debate over the years. Further, post the insertion of the Significant Economic Presence (SEP) definition, a coherent attribution mechanism was required to tackle the attribution of income to the SEP.

The Central Board of Direct Taxes (CBDT) constituted a committee to re-examine the rules of profit attribution and recommend changes in domestic law. In this regard, the report submitted by the committee had been released by the CBDT for comments from the public. The attribution mechanism prescribed has a significant impact on non-resident taxpayers, including taxpayers operating in India, in the digital domain.

We discussed:

• Observations or recommendations of the report
• The existing legal framework and practices in India for attribution of profits
• Analysis of the report’s proposals and the way forward

Tune in to the recording to learn more about the issue, the legal framework, interaction with tax treaties, and how this may affect MNCs operating in India.

Navigate business traveling today and how to stay on top of it | 9 May 2019

The fast-growing digital economy has prompted countries to act on issues arising from the As organizations use business travel in an ever increasing manner, authorities around the world are increasing their focus on business travelers, placing greater scrutiny on them and their employers. Additionally, employers are expected to have full oversight of their business travelers such as actively managing consequent compliance risks associated with immigration, tax, social security, payroll, and permanent establishment. Achieving improved compliance requires a holistic approach comprising change management techniques to steer traveler behavior, effective use of technology to manage the large volume of travel data, and downstream processes to undertake compliance actions. We'll discuss:

• How authorities focus on business travel has evolved and the implications. 
• Global hotspots and where employer focus on compliance is best placed. 
• How organizations are responding to the challenges. 
• Building a path to improved compliance and success.

Tune in to the recording to gain insights from Deloitte professionals on how your organization can keep on top of the shifting landscape, enhance governance, and strengthen compliance in business traveling.

Taxing royalty payments in a digital world: Keeping up with the changes in India | 7 May 2019

Digital economy relies heavily on intangibles, big data, and rapidly evolving technological advancements with decreased need for local personnel to perform certain functions. However, user participation is an important value driver for various types of online platforms which contributes in the service-offerings and brand building for a multinational in the digital sector. 

A group company of a multinational therefore, should be entitled to its share of profits of a business that result from the unrecognized value being created by these companies irrespective of where the business's goods and services are ultimately sold. In recent judgements, Indian judiciary also analyzed the business functions and value drivers of these multinationals in digital space and its Indian arm and re-characterized the payments from India as income from value creation in India. We'll discuss: 

• The transformation in business models and the need to revaluate the value drivers for business towards profit entitlements.
• Various royalty models and emphasis on variable royalty.Which model is more relevant in the digital world?
• Current developments from the Asia Pacific region.

Tune in to the recording to learn more about the developments in the digital world and how they may affect you.

G20/OECD: Tax challenges of the digitalization of the economy update | 16 April 2019

The last few months have seen several developments in Indian tax jurisprudence. Given the common law system in India and the hierarchy of courts and the tribunal, the same issue may come to be decided by multiple authorities and at multiple levels. This makes it necessary to always be aware of the evolving judicial views. There are also many changes in the statutory provisions, particularly in the area of GST. We discuss:

• Recent income-tax rulings, including on research and development expenses and on conversion of a company into an LLP.
• Recent important amendments in GST provisions.
• Update on anti-profiteering cases.
• Significant GST advance rulings.

Tune in to the recording.

How India APA/MAP resolution is benefitting UK based MNEs | 5 April 2019

The APA and MAP program in the past year has witnessed quicker resolutions for applicants seeking relief under India APA/MAP program. Various MNEs, including those headquartered in the UK, have benefitted through this program in attaining tax certainty with relation to their India operations. 

This webinar will provide interesting insights into the approach adopted by authorities, recent APA/MAP trends, and key considerations for MNEs participating in the program. 

Based on our recent experiences, the session will cover/highlight some of the complex tax issues that are currently faced by MNEs. This will include the following Transfer Pricing issues:

• Marketing intangibles [Advertisement, Marketing and Sales Promotion (AMP) expenses] 
• Intra group services 
• Royalty for intellectual property

India tax update: Latest developments and impact | 19 March 2019

The last few months have seen several developments in Indian tax jurisprudence. Given the common law system in India and the hierarchy of courts and the tribunal, the same issue may come to be decided by multiple authorities and at multiple levels. This makes it necessary to always be aware of the evolving judicial views. There are also many changes in the statutory provisions, particularly in the area of GST. We discussed:

• Recent income-tax rulings, including on research and development expenses and on conversion of a company into an LLP.
• Recent important amendments in GST provisions.
• Update on anti-profiteering cases.
• Significant GST advance rulings.

Provident Fund applicability on allowance: Supreme Court ruling | 15 March 2019

In a landmark ruling, the Supreme Court has recently concluded that all allowances such as conveyance, medical, education etc. are to be included for PF calculation unless such payments are:

• Variable in nature, or are linked to incentive for production resulting in greater output by the employee
• Not paid across the board to all employees in a particular category
• Being paid especially to those who avail the opportunity

Organisations with employees with a basic pay lower than INR 15,000 per month and foreign nationals (non-Indian passports or OCI card holders) need to understand the impact of the ruling, review the positions adopted, and determine the way forward.

We discussed:

• Background and facts
• Principles arising out of the ruling
• Impact on employer /employees
• Challenges and approaches

Excise Investigation in Auto Sector: Insights and way forward | 28 February 2019

Various auto component manufacturers are under investigations that have been initiated by the Director General of Goods & Service Tax Intelligence (“DGGI”).

Summons/notices are being issued to challenge the valuation of assessable value for levy of excise duty. According to the DGGI, the cost of drawing/design/specifications that is provided free of cost to the component manufacturers by the vehicle manufacturers should form part of the assessable value. Today, when the excise law has been replaced by GST law, this issue raised by the DGGI at such a large scale is disrupting the regular business and leading to litigation for the auto industry.

We’ll discuss:

• An insight into the allegations raised in the notice/s;
• Legal framework w.r.t. valuation under Central excise; and,
• Way forward.

Common themes in GST across China and India: What you should know | 26 February 2019

The changing profile of GST/VAT system across Asia Pacific region in recent times has made it necessary for businesses to alter their business strategies and their compliance planning. While GST continues to be a hot topic across the region, China and India being the largest economies in the region, are of specific interest to all businesses. China has been engaged in VAT reform for quite some time and many more changes are expected in 2019. India has just completed the introduction of a large scale GST which has altered the business landscape and increased compliance for many businesses. There are quite a few common themes emerging in the GST reform landscape of these Asian giants although the GST in these countries is quite different. We'll discuss:

• The business impact of these changes from a planning and compliance perspective.
• Common themes emerging from these countries.
• Practical case studies.
• Opportunities and the way forward.

Cross-border mergers in Asia Pacific: Steering towards the future | 19 December 2018

US trade policies have created an impact on the Asia Pacific region. From implementation of the Wassenaar Agreement to the release of a second tranche of list of goods subject to additional import tariffs. Transformational changes to trade policies have created a stir in various sectors such as export of automobiles, steel based products, etc. These changes have the ability to alter the geographical supply chain of products from one region to another. How the trade policies implemented by the US will be reciprocated by the countries in Asia Pacific? We'll discuss

• Cross imposition of import tariff on US origin goods.
• Shift of supply chain from one country to another country.
• Impact on manufacturing operations of business impacted by such tariff fluctuations.

Stay updated on the transformation impact of the US trade policies on various countries and the reciprocating trade measures taken by the effected countries.

Cross-border mergers in Asia Pacific: Steering towards the future | 29 November 2018

The Ministry of Corporate Affairs and Central Bank of India have rolled out rules to permit cross-border inbound and outbound mergers between Indian companies and foreign companies. This is expected to boost foreign investment in India. Further, it is a move that government has taken to showcase itself as an investment friendly jurisdiction. These regulations enable MNCs to look for business consolidation across the globe and enable Indian businesses to consider expanding their wings in the overseas market with more ease. We'll discuss:

• An overview of the rules and how does this impact Indian and foreign companies.
• What are the new avenues and potential limitations?
• The tax issues and interplay with overseas laws.
• Practical case studies.

Learn about the important developments on the cross-border mergers in Asia Pacific and how they may affect your organization.

Profit split method: New OECD guidance and practical applications | 27 November

The OECD BEPS reforms have increased the scrutiny of transfer pricing outcomes on a global basis. Relying solely on a one-sided transfer pricing analysis may no longer be sufficient in many jurisdictions. Consequently, the profit split method is likely to be used more often to set and review transfer pricing arrangements. The OECD has recently released further detailed guidance on the application of the transactional profit split method. During the webcast, we'll discuss:

• Revised OECD and local country guidance on the application of the profit split method.
• Identifying and accounting for intangible assets and contributions.
• Potential data sources and issues involved in practical application.
• Best practices, key experiences, and case studies.

Keep abreast of the developments in this important area of transfer pricing.

Tax rulings and social security agreements: Shifting sands for India inbound moves | 20 November 2018

Investment into India is increasingly a priority for many MNCs given that India is moving up the scale on "Ease of Doing Business". A natural consequence of this will be the transfer of more senior level executives to India which will create increased compliance requirements with regard to tax and social security obligations.

Digitization of compliance, enhanced data mining, closer connectivity between immigration, tax, and social security authorities, have all allowed the Indian authorities to better detect instances of non-compliance and to assess tax liabilities. Monitoring compliance, tracking defaulters, and levying real time penalty is an extremely robust process in India.

A significant focus area for MNCs will be in meeting the tax and social security obligations for senior employees transferred to India, managing risk with regard to a Permanent Establishment (PE) exposure, and having robust documentation to support secondment arrangements. The importance of documentation right from the assignment to repatriation stage cannot be overemphasized. We'll discuss:

• An overview of the compliance framework.
• The common challenges faced by companies seconding personnel to India.
• Practical case studies.
• Potential pitfalls that need to be avoided from a PE exposure perspective.
• The right approach to leverage on tax and social security costs.

Gain insights on the significant recent developments concerning tax rulings and social security agreements in India.

Recent Karnataka High Court (“KHC") ruling in Softbrands case on admissibility of Transfer Pricing matters: Critical analysis and insights | 12 July 2018

The pendency of tax matters especially the Transfer Pricing cases have increased significantly in the recent times. It is learnt that more than 3,500 Transfer Pricing cases are pending at the KHC, with the first admitted Transfer Pricing case pending for final hearing for over 9 years now.

With the view to reduce the pendency of tax matters before the KHC, a dedicated tax Bench was constituted in June 2018 with Justice Mr Vineet Kothari and Justice Ms Sujatha.  The KHC, after an elaborate hearing of over 3 days, has delivered a landmark judgement in relation to admissibility of Transfer Pricing cases, specifically on whether the questions on comparability analysis of companies and filters to be adopted for the benchmarking exercise, would constitute a ‘Substantial Question of Law’ so as to be admitted by the HC.

The discussion covers:

• Detailed analysis of the KHC ruling
• Observations and impact analysis

The ruling has widespread ramifications for transfer pricing cases, in particular, and tax cases in general, where Tribunal has delivered their decisions. 

Prosecution for Income-tax offences: Steep rise in complaints and convictions | 9 May 2018

A threefold increase in the number of prosecution complaints has occurred only in the first eight months of FY 2017-18. Until November 2017 a total of 2225 prosecution cases have been filed by the Department as against 784 filed in entire FY 2016-17. In the zeal of achieving tax recovery targets and tackling the black money menace, department is issuing prosecution notices for non-compliances like non-filing of returns, non-payment of taxes, etc.

The discussion covered:

• procedure under tax laws for prosecution and defences
• practical cases on mitigating prosecution

The approach of treating income tax offences on par and as grave as economic offences has widespread ramifications.
It is better to be updated and ready than react when prosecution notices arrive.

Union Budget 2018: Key highlights | 1 February 2018

Union Budget 2018 will be presented on 1 February 2018. The last fiscal year witnessed a slew of reforms on the tax and regulatory front. With the current government entering its penultimate year, the trend is set to continue.

Goods and Services Tax (GST) regime in India was implemented in July 2017. The release of the final rules on country-by-country reporting and master file requirements in India are significantly aligned with BEPS Action 13 guidance, reflecting India's commitment to global consistency.

GST, Real Estate Regulation Act, demonetization, bankruptcy code, recapitalization of bonds of public sector banks, and relaxation of foreign direct investment norms are challenging old practices and transforming the way India is doing business.

In these times of massive reforms, interest is further mounting to see what’s next on the cards. What economic reforms will the budget bring? How will it affect the business landscape in India?

Union Budget 2018: Detailed analysis and insights | 2 February 2018

Union Budget 2018 will be presented on 1 February 2018. The last fiscal year witnessed a slew of reforms on the tax and regulatory front. With the current government entering its penultimate year, the trend is set to continue.

Goods and Services Tax (GST) regime in India was implemented in July 2017. The release of the final rules on country-by-country reporting and master file requirements in India are significantly aligned with BEPS Action 13 guidance, reflecting India's commitment to global consistency.

GST, Real Estate Regulation Act, demonetization, bankruptcy code, recapitalization of bonds of public sector banks, and relaxation of foreign direct investment norms are challenging old practices and transforming the way India is doing business.

In these times of massive reforms, interest is further mounting to see what’s next on the cards. What economic reforms will the budget bring? How will it affect the business landscape in India?

India releases draft rules on Country-by-Country reporting and Master File for public consultation | 12 October 2017

The Central Board of Direct Taxes (“CBDT”) on 6 October 2017 released draft rules in respect of CbC reporting and Master File related requirements in India, for public consultation. The draft rules provide detailed instructions for compliance with these requirements and are open for public comments till 16 October 2017. 

Topics discussed:

• Provisions relating to Master File
• Provisions relating to CbC reporting
• Impact on Indian Multinational Enterprises (MNEs)
• Impact on MNEs headquartered outside India
• Key suggestions/recommendations on the draft rules 

BEPS – India spotlight | 26 September 2017

India has been one of the active members of the OECD’s BEPS initiative and as part of international consensus, India has successfully implemented various BEPS Actions Plans to address the BEPS issues.

Our discussion will cover:

• Multilateral convention to implement tax treaty related measures to prevent BEPS
• Other key issues - MNCs with Indian operations will also be impacted by other changes such as interest deductions for related party debt and changes to the definition of permanent establishment.

• Treaty abuse
• Aligning transfer pricing outcomes with value creation.
  
• Three tier transfer pricing documentation.
  

Permanent Establishment and Transfer Pricing audits | 30 August 2017

Controversy around existence of permanent establishment keeps on resurfacing. The Supreme Court in a recent decision in Formula One World Championship Ltd. has laid down guiding principles for qualifying as a Permanent Establishment (PE) in India, attribution of income and withholding tax. This decision is of considerable importance in the field of furthering international tax jurisprudence.
With the emergence of new safe harbour rules, CBC reporting, risk based scrutiny and BEPS, the manner of TP scrutiny assessments will undergo a change. Recent litigation also suggests a change in the trend and focus of the tax authorities.

Topics covered in discussion:

• Decision of the Supreme Court in Formula One World Championship Ltd v. CIT (394 ITR 80)
• Changing scenario of transfer pricing litigation in India in the light of revised Safe Harbour Rules, impact of BEPS especially CbC reporting and risk based assessments. 
• Some recent rulings and litigation trends in the field of Transfer Pricing.
  
  

US Tax Reforms and what they mean for India | 18 July 2017

Tax reform still looms large in Washington. The White House and congressional Republicans maintain their commitment to enacting comprehensive tax reform by the end of this year. But consensus is still lacking as to what a reformed tax code should look like.

Following topics were discussed:

• Proposed corporate and individual rate changes—and base broadeners—in the major tax reform plans that have been released to date. These include disallowance for imports and exemption for exports, accelerated depreciation, restriction on R&D credits, tax rate changes etc.;
• Conditions that could hasten or hinder action on tax reform this year;
• Procedural options available to lawmakers in the pursuit of tax reform legislation; and
• Impact of these proposals from an Indian perspective. 

Tax Litigation in India- Changing Landscape | 27 April 2017

In India courts have played crucial role in the development of jurisprudence. Many a time conceptual issues have been settled by the courts. The decisions of tax tribunals and courts have provided clarity on legal issues and on interpretation of facts not only for the Indian taxpayers, counsels and tax authorities but also to those in other countries. The landmark decisions of the Indian courts are quoted in tax journals across the world as well as by courts in other countries. Courts in India are alive to developments in other countries and draw strength for reaching decisions. The decisions by the courts provide much needed resolution from litigation to taxpayers. Fortunately the tax department has been taking steps to reduce litigation.

Following topics were discussed:

• Some recent landmark decisions on International Taxation;
• Some recent landmark decisions on Transfer Pricing;
• Important lessons from the above decisions; 
• Recent steps by the tax department to reduce litigation;
• Proposed change in penalty provisions – the ramifications.