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Perspectives

Deloitte India Tax webcasts

Register now for our upcoming webcast on Quarterly India Tax updates. Also, access the materials for previous webcasts held.

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Quarterly India Tax updates: Decoding the changes for October - December 2018

January 2019

Stay tuned for the next session in the Deloitte Quarterly Tax updates series, designed to bring to you insights from the ever-evolving tax landscape. You may pre-register for the webcast now. More details to follow, shortly.

 

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Previous webcasts

Quarterly India Tax updates: Decoding the changes for July - September 2018

The income-tax jurisprudence on permanent establishments continue to be in the limelight; more changes and advance rulings on GST could be expected. View the archived version of the Quarterly India Tax updates webcast

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.
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