Deloitte India Tax webcasts

In-depth analysis of Apex Court ruling in Safari Retreats

Monday, 7 October | 5:00 p.m. India time 

We are pleased to invite you to an exclusive webinar analysing the much-awaited ruling of the Hon`ble Supreme Court in the case of Safari Retreats.

The decision which details the principles to be adopted qua the availment of Input Tax Credit (“ITC”) under the Goods and Services Tax (GST) regime will be discussed threadbare and its impact on businesses will be analysed thoroughly.

What’s in store?

• In-depth analysis of Safari ruling
• Implications on claim of ITC basis the principles laid down
• Practical considerations and next steps
• Q&A session

Speakers

• D P Nagendra Kumar, Senior Advisor, Deloitte India
• Nitesh Kumar, Director, Deloitte India
• Hardik Shah, Subject matter expert
• Priyanka Rathi, Subject matter expert

The panel will share practical insights and address your questions. Stay ahead of the curve and ensure your business is ready for the evolving GST landscape..

We look forward to your participation.

Dbriefs Taxation of cross border HO-BO business models - Indirect Tax

Due to increased demands on virtual events, webcast attendance
is limited and on a first-come basis.

Date and time: 17 September, 2:00 – 3:00 PM SGT (GMT +8)

In a recent case covered by various media outlets, a major Indian MNC is in receipt of a notice for demand of INR 32,403 Cr as alleged non-payment of GST in relation to import of services by the HO from branch. This model is prevalent in the service sector set up and a substantial portion of service sector business is in relation to cross border transactions. There have been plethora of judgements in the service tax era in relation to service-based industries. We would like to discuss the business models and tax implications in respect of HO-BO arrangements for our clients.

Subject matter experts:
Bhupendra Kothari, Gaurav Bhauwala, K Baskar, and Madhava Yathigiri

Recommendations of 54th GST Council meeting and Invoice Management System

Friday, 13 September
11:00 a.m. India time

Join the webinar as we delve into announcements from the recent 54th GST Council meeting held on 9 September 2024, and discuss the Invoice Management System (IMS) set to take effect from 1 October 2024.

What’s in store?

• Key recommendations from the 54th GST Council Meeting: Gain insights into the Council's major decisions.
• Business impact: Understand how these significant GST changes will affect businesses.
• Future outlook: Discover trends and expectations based on the GST@7 survey insights.
• Invoice Management System: Examine the nuances and communication processes effective from 1 October 2024.

Speakers:

• Mahesh Jaising
  Leader, Indirect Tax, Deloitte India

• DP Nagendra Kumar
  Senior Advisor, Indirect Tax, Deloitte India

• Punita Bhuchar
  Partner, Indirect Tax, Deloitte India

The panel will share practical insights and address your questions. Stay ahead of the curve and ensure your business is ready for the evolving GST landscape.

India tax litigation settlement: The Direct Tax Vivad Se Vishwas Scheme, 2024

Wednesday, 14 August 2024
3:00 p.m. India time.

Encouraged by the success of the tax litigation settlement scheme in 2020, the Finance Minister has tabled "The Direct Tax Vivad se Vishwas Scheme, 2024" in the parliament on 23 July 2024. The key objective of the scheme is to provide an opportunity to settle disputes, based on commercial considerations without accepting the technical position, upon payment of merely the tax component in lieu of waiver from interest and penalty.

This session will cover the following:

• An overview of the scheme
• Procedural aspects of the scheme
• Critical business considerations to be evaluated before opting for the scheme
• Conversation with Pankaj Jindal, Joint Secretary, Ministry of Finance, Government of India

Moderator:

• Karishma Phatarphekar, Partner and Tax Controversy Management Leader, Deloitte India

Subject matter experts:

• Pankaj Jindal, Joint Secretary, TPL, CBDT, Ministry of Finance, Government of India
• Sobhan Kar, Senior Advisor, Deloitte India

GST@7 survey and recommendations of 53rd GST Council meeting

Thursday, 27 June 2024, 3:30 p.m. India time

Deloitte's latest GST@7 survey offers a comprehensive insight into the sentiments of corporate India towards GST. With responses from 760 corporate executives across six sectors, the survey reveals an impressive 84% positive perception of GST, a substantial rise from 59% in 2022 and 72% in 2023. The survey also highlights industry calls for various focus areas as part of GST reform 2.0.

What You Will Learn:

Survey Findings: Highlights of focus areas recommended by the Industry as part of GST reform 2.0

Recommendations from the 53rd GST Council Meeting: Understand the key recommendations made by the GST Council

Business Impact: Gain insights into the significant decisions taken during the meeting and its impact on the business.

Future Outlook: Explore the areas to look forward to in the next GST Council meeting and how they align with the survey's insights.

Subject matter experts:

• Gokul Chaudhari, President, Tax, Deloitte India

• DP Nagendra Kumar, Senior Advisor, Deloitte India     

• Hardik Shah, Partner, Deloitte India 

• Mamatha Anand, Partner, Deloitte India

Deploying employees overseas – employment tax and social security considerations

Wednesday, 26 June 2024, 11:30 a.m. India time.

Employers often face challenges regarding payroll model considerations during the deputation period. Should employees remain on the India payroll, or should they be shifted? What are the individual tax and social security compliance requirements? How can bilateral tax and social security agreements be leveraged?

Therefore, employers must have a clear understanding of regulations surrounding provident funds, gratuity, and other related matters to make informed decisions on outbound deployment.

This session will cover the following:

• Global mobility assignment models
• Employment tax, Provident Fund and Gratuity considerations
• Understanding bilateral agreements and benefits under these.
• Concerns and challenges

Subject matter experts:

• Saraswathi Kasturirangan, Partner, Tax, Deloitte India
• Radhika Viswanathan
• Vijay Bharech

ESOPs and FoC transactions – An insight into various tax implications

15 May 2024, 11:30 a.m. India time

Join the webinar as we walk you through various tax implications in respect of
Employee Stock Options (‘ESOP’) schemes and Free of Cost (‘FoC’) transactions
between related parties.

It is important for companies to gain essential insights on the intricacies involved in this space.

Subject matter experts:

• Shilpy Chaturvedi, Partner, Indirect tax, Deloitte India
• Bhupendra Kothari, Partner, Transfer Pricing, Deloitte India
• Gaurav Bhauwala, Partner, Business tax, Deloitte India
• Aarti Raote

Recent changes in the U.S. taxation laws

25 April 2024, 6:30 p.m. India time.

If your business has a presence in the U.S., the U.S. BEAT regime and certain local recent developments on the tax treatments of research and experimental expenditures can probably have a significant impact on the amount of tax you pay in the U.S.

Please join this webinar to hear from our subject matter experts about recent developments, how they can potentially impact you, what are your options and what challenges can be anticipated.

We have specially curated webinar to learn from the experts on these buzzing topics, which shall include:

• Overview of BEAT and scheduled changes
• Recent updates on research and experimental expenditures

This would be followed by a Q&A session with the subject matter experts addressing common challenges around BEAT, and research and experimental expenditures.

Subject matter experts:

• Anil Talreja, M&A Tax Partner, Deloitte India
• Anu Thomas Alex, Tax Principal, Deloitte US
• Pierre Henri Revault, Tax Principal, Deloitte US
• Mark Hindes, Tax Senior Manager, TAX WNT, Deloitte US.
• Michael Blumer, Senior manager, Deloitte US

It is our continuous endeavor to focus on India outbound companies having significant presence in the U.S.

OECD Pillar 2 – Overview, impact and way forward

Thursday, 18 April at 11.30 a.m. IST.

The Pillar Two initiative has its roots in the G20 / OECD led Base Erosion and Profit Shifting (‘BEPS’) project a decade back. It is focused on the ‘remaining BEPS challenges’ and proposes a systematic solution designed to ensure that MNEs, with annual revenue of EUR 750 million or more, pay a minimum level of tax (agreed at 15%) in each jurisdiction they operate in. The session will cover the following:

• Overview of Pillar 2 Law
• World-wide implementation status
• Impact on India
• The way forward
  

Subject matter experts:

• Utkarsh Trivedi, Partner, Tax, Deloitte India
• Madhu Agarwal

Digitised joint request under provident fund – Applicability and implications

5 April 2024, 11:30 a.m. India time.

Employees' Provident Fund Organisation (EPFO) has recently digitised the process of joint requests for employees opting to contribute to provident fund on salaries exceeding the ceiling of INR 15,000 per month. The session will cover the following:

• Recent change and its impact on compensation
• Industry practices regarding compensation and benefits
• The way forward

Subject matter experts:

• Vamsi Karavadi, Director, Consulting, Deloitte India
• Sureshkumar S
• Radhika Viswanathan

Labour regulations and employer compliances

7 March 2024, 11:30 a.m. India time.

It is important for employers to understand and comply with multiple labour related regulations including provident fund, gratuity, employees’ state insurance (ESI), payment of bonus, maternity benefits, etc. This session will cover the following:

• Employer compliances required – applicability, timing, and procedure
• State specific requirements
• Focus on policy
• Concerns and challenges

Subject matter experts:

• Saraswathi Kasturirangan, Partner, Tax, Deloitte India
• Radhika Viswanathan
  
• Tarun Garg

Bureau of Indian Standards (BIS) and new Quality Control Orders (QCOs)

22 February 2024, 4:00 p.m., India time.

This session will provide valuable insights and information for businesses engaged in international trade with a comprehensive overview of the latest developments in the BIS licensing including:

• BIS License – Industry coverage and upcoming QCOs
• Procedure for BIS license and the documentation
• Why business must be prepared?
• Consequences of Non-Compliance with BIS requirements
  
  

This session shall help you stay up-to-date with recent changes in BIS regulations by providing practical guidance on how to obtain license for your specific industry/product and also hear from experts who have successfully navigated the challenges of obtaining and managing these licenses.

Subject matter speakers:

• Gulzar Didwania, Partner, Tax, Deloitte India
• Vijay Singh Chauhan, Executive Director, Tax, Deloitte India
• Spriha Singh

Financial Services Industry

Transfer Pricing Nuances for Private Equity Groups

1 February, 2:00 – 3:00 PM SGT (GMT +8)

With recent shifts in capital markets and a shrinking public company market, private equity has evolved quickly to become a mainstream investment option in Asia Pacific, leading to strong growth in the industry over the last decade. Against this backdrop, private equity firms and portfolio companies must navigate an increasingly complex, and rapidly changing, transfer pricing landscape across Asia Pacific. In this Dbriefs session we cover:

• Typical fund transfer pricing structures.
• Transfer pricing methodologies and policies, including comparables and mark-ups.
• Treatment of carried interest.
• Current focus of tax authorities and advance pricing arrangements (APAs).
• Interest limitation/thin capitalisation rules.

Subject matter experts : Shefali Shah, Michael Manser, Philip Moralee

Transfer Pricing Special Edition

Interview with Manuel de los Santos, Head of OECD Transfer Pricing

23 January, 2:00 – 3:00 PM SGT (GMT +8) 

Anis Chakravarty speaks with Ralf Heussner on his recent interview with Manuel de los Santos, Head of the OECD Transfer Pricing Unit, to discuss latest and upcoming OECD transfer pricing projects including:

• Pillar One Amount A and Amount B.
• Transfer pricing aspects of the Pillar Two global minimum tax rules.
• Upcoming projects, including cross-border remote working and permanent establishments, including attribution of profits and intra-group service.
• Dispute prevention and resolution mechanisms.

Subject matter experts: Anis Chakravarty and Ralf Heussner

Corporate Income Tax

Interpretation of Most Favoured Nations clause - Impact on Non-residents
and Action points

16 January, 2:00 – 3:00 PM SGT (GMT +8)

• On October 19, 2023, the Apex Court of India issued a ground-breaking verdict that holds significant implications for the interpretation and application of the Most Favored Nation (MFN) clause in the context of Indian tax treaties. An initial analysis of the judgment suggests that (a) foreign taxpayers who, due to the MFN clause, paid lower or no taxes in India, and (b) resident taxpayers who, under the MFN clause, withheld lower or no taxes when making payments to foreign taxpayers, will face increased scrutiny. In this session, we will delve into the following key points:
• Understanding the foundation of the Apex Court's ruling.
• Unpacking the reversal of Lower Court's Stance.
• Assessing Implications and Practical Challenges for foreign taxpayers.
• Exploring the path forward for foreign taxpayers.
  
  

Subject matter experts: Jimit Devani and Sunil Shah

SCOMET Licensing - Coverage, applicability and what you need to do

Join the webinar on Special Chemicals, Organisms, Materials, Equipment And Technologies (SCOMET) Licensing

18 January 2024, 12:30 p.m., India time.

This session will provide valuable insights and information to businesses engaged in export of technology related products. It will cover the following aspects:

• Introduction to SCOMET
• An overview of the SCOMET List along with relevant case studies
• Different types of SCOMET authorisations
• Process for obtaining a SCOMET License

This session shall help you by providing practical guidance on how to obtain a SCOMET license and also hear from experts who have successfully navigated the challenges of obtaining and managing these licenses.

Subject matter experts: 

Gulzar Didwania, Partner, Tax, Deloitte India
Spriha Singh, Director, Tax, Deloitte India
Vijay Singh Chauhan, Executive Director, Tax, Deloitte India

We look forward to your participation.

Carbon Border Adjustment Mechanism (CBAM) Industry coverage, and what Indian exporters need to do

Friday, 8 December 2023
2:00 p.m., India time

The webinar will demystify CBAM regulations and its implications on the export of iron, steel, aluminum and some other products into the European Union. It will provide valuable insights on how Indian exporters can collaborate with their EU importers to help them comply with the mandatory reporting requirements.

Agenda highlights:

• Unveiling the CBAM framework
• Impact on export of iron, steel, and aluminum products
• Navigating obligations under CBAM
• EU & Asia-Pacific perspective on CBAM compliance
• Expert insights and strategies for Indian exporters

Subject matter experts:

• Gulzar Didwania, Partner, Tax, Deloitte India
• Meng Yew Wong, Partner, DTS Global Trade Advisory, Deloitte Singapore
• Rebecca Pehlivan, Partner, Tax, Deloitte Netherlands
• Vijay Singh Chauhan, Executive Director, Tax, Deloitte India

Import and Export Licensing - Recent changes, industry coverage, and what you need to do

31 October 2023, 4:00 p.m. India time.

This session will provide valuable insights and information for businesses engaged in international trade with a comprehensive overview of the latest developments in the Import and Export licensing including:      

Import licensing on laptops, computers, servers etc.   

Bureau of Indian Standards (BIS) License

Extended Producer Responsibility (EPR)  

Special chemicals, Organism, Materials, Equipment and Technologies (SCOMET) license  

EU Carbon Border Adjustment Mechanism (CBAM)

This session shall help you stay up-to-date with recent changes in trade regulations by providing practical guidance on how to obtain license for your specific industry/product and also hear from experts who have successfully navigated the challenges of obtaining and managing these licenses.

Subject matter experts:

Vijay Singh Chauhan, Ex-IRS Officer, Principal Commissioner of Customs

Gulzar Didwania, Partner, Tax, Deloitte India

Spriha Singh

We look forward to your participation.

Corporate Income Tax

Tax collection at source in India: The conundrum continues!

18 October 2023, 2:00 – 3:00 PM SGT (GMT + 8)

In 2020, the Indian Government had introduced the provisions for collection of tax at source (‘TCS’) on payments made under Liberalised Remittance Scheme and on overseas tour programme package. The Finance Act, 2023 proposed a slew of amendments to the TCS provisions which further opened a pandaro’s box of nuances and practical challenges for the travel and hospitality industry. Although recently, the Reserve Bank of India and the Ministry of Finance issued certain clarifications from a regulatory and tax perspective, companies in this space are still struggling on the applicability of the provisions along with practical challenges to implement. Through this forum, we will cover the following aspects:

• Overview of the TCS provisions.
• Applicability of the TCS provisions on certain transactions.
• Nuances and practical challenges.

Subject matter experts:

Jimit Shah, Partner, Tax, Deloitte India

Sameer Maniar, Executive Director, Tax, Deloitte India

Pooja Dhokad, Senior Manager, Tax, Deloitte India

We look forward to your participation.

Transfer Pricing Treasury Transfer Pricing – Dept Pricing and Cash Pooling

17 October 2023, 2:00 – 3:00 PM SGT (GMT + 8)

Traditional treasury roles are evolving in today’s world. Across regions, the importance of aligning tax and treasury pricing decisions is gaining momentum. In this space, Companies have witnessed major transitions like LIBOR replacements, increased reporting focus on financial transactions, and other market forces that are posing new challenges. Therefore, Treasuries need to revisit treasury policies regularly for capital/funding structure updates; changing investment strategies, to focus on better use of cash, e.g., increased appetite for Cash Pooling Arrangements and other considerations, such as local interest restriction rules (CIR). Additionally, transfer pricing issues revolving the treasury functions are becoming more and more complex given the close scrutiny of the tax offices across jurisdictions. In this Dbrief session we will:

• Cover the treasury transfer pricing complexity with respect to the intercompany loans and cash pooling arrangements from treasury transfer pricing perspective across industries specifically touching upon the financial services sectors.
• Focus on the recent trends of the tax officers with respect to the debt transactions and cash pooling.
• Whether these jurisdictions have included any specific guidance to incorporate the principles of Chapter X of the OECD guidelines? Whether the outlook or focus on assessing these transactions have changed or are anticipated to change for the Chapter X inclusion?
• How the interest limitation rules interacts with the transfer pricing analyses etc.

Subject matter experts:

Anushree Jagnani, Executive Director, Tax, Deloitte India

Trina Maitra, Director, Tax, Deloitte India

We look forward to your participation.

Online gaming – Impact of recent changes in Indian regulatory & tax laws

Wednesday, 27 September 2023

2:00 p.m. – 3:00 p.m. SGT (GMT +8) 

On 6 April 2023, The Ministry for Electronics and Information Technology (MEITY) notified amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (“Intermediary Rules, 2021”), to create additional obligations for online gaming intermediaries who enable access to real money games. Certain amendments relating to requirement of having physical contact address and appointment of compliance officers by online gaming intermediary could have tax implications. Having a physical contact address in India and appointment of compliance officers who are resident in India by a non-resident online gaming intermediary may result in Exposure under the Act and PE exposure for non-resident in India, Withholding tax obligations and Impact on equalisation levy. Further, the online gaming industry has been grappling with an unresolved issue of GST, which can impact the industry’s viability and sustainability. The GST council, in its meeting held on July 11, 2023, has recommended uniform rate of 28% on the full value of bets placed (irrespective of whether the activities are a game of skill or chance). The GST Council has recommended legislative changes in its meeting on August 2, 2023. GST Council has decided to bring into effect the proposed changes from 1 October 2023 (formal notification awaited). During the webcast, we will discuss:

• Amendment to Intermediary Rules which would be relevant for the online gaming intermediaries and impact of data privacy. 
• Recent announcements by the GST council and impact on the online gaming industry.
• Corporate tax considerations due to the amendment to the Intermediary Rules.
• Certain nuances pertaining to withholding tax on winning from online gaming. 

Subject matter experts:

• Madhava Yathigiri, Partner, Tax, Deloitte India
• Neha Aggarwal, Partner, Tax, Deloitte India
• Shilpy Chaturvedi, Partner, Tax, Deloitte India
• Hiren Shah, Executive Director, Tax, Deloitte India

We look forward to your participation.

Doing business in India from a tax and regulatory perspective | 27 June 2023

Subject matter experts: Hema Lohiya, Neha Aggarwal, Rohinton Sidhwa

India is well on its way to become the third largest economy in the world by 2030, and features high on the agenda of almost every global corporation due to the size of its domestic market. Yet it remains a complex jurisdiction, demanding of management bandwidth, where situations can be nuanced and responding to constant change requires agility in decision making. During this session, we will focus on:
• Successful examples of funding, supply chain, cash repatriation and controversy management in India that will help businesses navigate operating in India more effectively.
• The opportunity posed by and the format of, production linked incentives (PLI) that have quickly replaced most tax incentives in India.
 

Recent amendments to Indian KYC rules – Impact on new and existing Foreign Portfolio Investors | 31 May 2023

Subject matter experts for the webinar:
• Nitin Shingala
• Rajesh Gandhi

The Indian Government and the Securities and Exchange Board of India (SEBI) have announced changes to the existing KYC rules to strengthen the KYC and anti-money laundering framework in India.
Some of these changes include:
• A change in threshold to identify beneficial owners of specific entities
• Examining layers of legal entities to identify natural person(s) that should be identified as beneficial owners of FPIs
• Compression of timelines for FPIs to intimate material change in information to their local custodians/SEBI

We discussed the amendments and the practical implications arising from these amendments.

Income tax digitalisation in India | 19 May 2023

Subject matter experts
• Gokul Chaudhri
• Rohinton Sidhwa
• Pritin Kumar
• Atul Gupta

The webinar shared insights from the industry’s perspective on various
technology initiatives of income-tax authorities and corporates, and how they
positively affect businesses, particularly in data management, efficiency,
transparency, and ease of compliance. The session covered the tax technology trends and key survey findings on the inclusion of technology on businesses and individuals in India.
 

Employee’s Pension Scheme – What does the Supreme Court ruling mean to you? | 10 March 2023

Subject matter experts for the webinar:
• Radhika Viswanathan
• Saraswathi Kasturirangan
• Poorva Prakash

The Supreme Court had pronounced its ruling relating to Employee’s Pension Scheme on 4 November 2022; the judgement related to members’ rights to opt to contribute to higher pension. The Supreme Court provided a four-month window for this purpose. Further to the ruling, the EPFO has issued a series of circulars providing operational guidelines catering to exited / existing employees. The EPFO has also enabled an online portal for exercise of the option besides extending the timeline by two months.

It is important for employers and employees to understand the impact of the ruling, its applicability, steps to be taken, challenges, and concerns. We’ discussed the above and more during our webinar.
 

Developing an operational transfer pricing framework - practical application | 9 February 2023

Subject matter expert(s): Manmeet Vij

The transfer pricing function has had to deal with a significant increase in external reporting requirements, amongst more complex demands from the business and its need for transfer pricing input. To do this effectively, a transfer pricing function will need to adopt key principles of operational transfer pricing (People, Process, Data and Technology) across more than just the application of the transfer pricing policies, as it looks for opportunities to streamline and automate work undertaken, allowing it to contribute to proactive and strategic decision making of the business. Increased data-driven controversy mitigation strategies and global reporting requirements, as well as competent authorities’ continued focus on transfer pricing governance and their own investments in tax technologies, has made digitalising operational transfer pricing processes as a strategic priority for taxpayers. In this webcast,  we discussed:

• Break down the core framework we apply when operationalising tasks in the transfer pricing function.
• Provide case studies to illustrate how this works in practice.
 

Investigations and Audits under GST: Strategizing and Preparing the businesses | 17 January 2023

Subject matter experts: Anoop Kalavath, Hardik Gandhi, and Vikram Kulkarni

The introduction of GST in 2017 brought upon a turbulent period for businesses in India. New legislation replaced most of the prevalent Indirect Tax legislations and introduced a uniform tax regime across the country. While the intent was noble, and provided clarifications, amendments and modifications in the existing legislation, it also led to different interpretations tax authorities. This resulted in variance in tax positions and practices across the country. As the Law and its interpretation have become stabilized in due course, various Intelligence Agencies in the department of revenue swung into action and armed with specific information owing to the advanced technology tools causing businesses to be flooded with Audits, enquiries and investigations. In this webcast, we discussed:
• Preparing for Audits/Investigations.
• Strategizing the way forward during Audits/Investigations.
• Common issues raised by Revenue authorities
 

Virtual Digital Assets - GST issues | 12 January 2023

Subject matter experts: Hardik Gandhi, Shilpy Chaturvedi

Tax authorities in India are struggling to come to grips with this dynamic nature of Virtual Digital Assets (VDA). This makes it difficult for the law makers to understand how VDAs could be included in the traditional definitions and
concepts of taxes particularly for GST to be applied.

The Indian Government has taken steps to bring clarity to the taxation of VDA’s (such as cryptocurrencies and NFTs) from a direct tax perspective by recognizing them as new asset class and including them in the tax framework.

However, clarity is still awaited on the GST front. Through this forum, we will discuss the nuisances around the GST aspects on VDA industry in India.

Types of VDAs.
Classification of VDAs under the traditional definition of goods and services.
Tax implication in cross-border transactions.

The Direct Tax Vivad se Vishwas Act, 2020 | 16 December

With a view to clear the backlog of litigation, the Indian Government launched a direct tax litigation settlement scheme named the Direct Tax Vivad Se Viswas Scheme (VSV scheme) in March 2020. The VSV scheme offers taxpayers a one-time window to settle their pending income tax litigation by filing for settlement before 31 December 2020.

According to the information available on public domain, 45,855 declarations have been filed under the VSV Scheme until 17 November 2020, and a total of INR724,800M had been paid by the taxpayers. With many of the eligibility and computational related aspects clarified in the first set of FAQs, the CBDT has also issued second set of FAQs recently to aid taxpayers to adopt a pragmatic and rational decision with reference to their tax dispute matters.

Subject matter experts:
• Satyakam Mishra, Principal CCIT(International Taxation), Delhi
• Pragya Sahay Saksena, CCIT(IT&TP)WZ, Mumbai
• Gangadhar Panda, CIT(IT)-2, Delhi
• Jasdeep Singh, CIT(IT), Chennai
• P Chandershekhar, CIT(IT&TP), Hyderabad
• Gaurav Kanaujia, CIT(IT&TP), Kolkata
• Vipul Jhaveri, Subject matter expert
• Karishma Phatarphekar, Subject matter expert
 

Understanding the Code on Social Security 2020 | 18 November

The Ministry of Labour and Employment, Government of India has taken an important initiative of simplification and amalgamation of numerous central labour laws into the following four labour codes:
1. Code on Wages,
2. Code on Social Security,
3. Code on Industrial Relations and
4. Code on Occupational Safety, Health and Working Conditions

The Code on Social Security encompassing provisions relating to provident fund, employees’ state insurance (ESI), gratuity, and maternity benefit among others was passed during the monsoon session of Parliament, and received Presidential assent on 28 September 2020. The effective date of its coming into force is awaited.

We invite you to join us for a knowledge- sharing session by subject matter experts, on the compliance aspects relating to the Code on Social Security.

Agenda for the webinar is as follows:
• Overview of the Code on Social Security
• Analyse the key features of the Code, i.e., applicability, procedural requirements, and understanding the impact
• Discuss the compliance requirements, challenges, and concerns

Register for an update on the upcoming Code on Social Security.

GIFT IFSC 2020: A new global fund jurisdiction | 10 November

In 2015, India set up its first International Financial Services Centre (IFSC) in the newly established Gujarat International Finance Tec-City (GIFT City), in the western state of Gujarat. The GIFT IFSC initially offered business opportunities in diverse financial areas including banking, capital markets, insurance, asset management, and ancillary services. In 2015, the Indian regulators allowed the setting up of Alternative Investment Funds (AIFs) in GIFT IFSC. Since then, many tax incentives have been rolled out by the Government of India to promote fund activities in GIFT IFSC.

In a recent development, capital gains from non-equity investments made by a Category III AIFs set up in IFSC have been exempted from tax in the hands of the AIF and its investors. Tax exemption is further extended to transfer of units of the AIF between investors.

This is a significant move and would enable GIFT IFSC to compete with popular offshore fund jurisdictions such as Singapore and Mauritius.

Please join Deloitte Touche Tohmatsu India LLP for an interactive discussion on the framework and opportunities for setting up fund structures in Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC).

We will discuss:
• A brief update on the GIFT IFSC ecosystem, stakeholders, key tax and regulatory aspects, and recent developments
• Opportunities and issues for a fund in GIFT IFSC
• How do the recent changes compare GIFT IFSC with key offshore jurisdictions such as Singapore and Mauritius?

Moderator:
• Monish Shah, Deloitte Touche Tohmatsu India LLP

Subject matter experts:
• Arjun Prasad, Deputy General Manager, International Financial Services Centres Authority (IFSCA)
• Sandip Shah, Head – IFSC Department, GIFT City
• Rajesh Gandhi

M&A and COVID-19 strategy in India, Japan, and Korea: Charting new horizons in a world of asymmetric recovery | 10 November

M&A activity is likely to be dominated through an offensive strategy or a defensive strategy with a view to maximizing value. Asia Pacific remains the hot bed of economic activity and the focus on the region from an M&A perspective is quite high. For buyers, the greater opportunity of companies likely to streamline and reposition their portfolios, through the sale of non-core businesses pursuant to the pandemic, is leading to an increase in potential investment opportunities. However, end-to-end M&A, which includes but is not limited to carve-out and acquisition/disposal of a business presents some unique challenges. Professionals from different tax geographies will discuss:

• Divest non-core or distressed assets and wind down underperforming businesses.
• Pursue co-investment opportunities for capital intensive projects and opportunistic deals to safeguard core markets.
• Acquire distressed underperforming peers and early stage companies and capabilities to accelerate digital transformation.
• Strategic acquisitions to fill the portfolio of operations and vertical integration.
Learn about practical issues in connection with M&A tax considerations for possible buyers and potential sellers in India, Japan, and Korea.

Subject matter experts: Rahul Vig

Redefining priorities for global mobility, rewards, and talent: Webinars on respond, recover, and thrive | 4 November

Series-2 (Recover): COVID-19 has been impacting travel, ways of working, and ways of living across the globe. During this time, leaders are being asked to not only react to ever-changing global events, but also plan for the future, manage business continuity, learn and emerge stronger, and prepare for the next normal.
We are organising a series of webinars covering the three stages of the COVID-19 crisis—respond, recover, and thrive.

In the upcoming ‘Recover’ series, we will discuss the following factors that will help an organisation learn and emerge stronger:
• Headcount optimisation: Evaluating talent cost enhancement strategies including unique considerations for mobile employees (travel assigned, transferred, etc.)
• Broad-based rewards: Re-evaluating employee compensation and benefits for the ‘Recover’ phase focused on stabilising operations
• Equity & long-term incentives: Plan and program considerations to balance cost reduction pressures and talent engagement

Subject matter experts:
• Anupama Kaul, CHRO, Cummins
• Peter Simeonidis, Global Employer Services, US
• Homi Mistry, Subject matter expert, India
• Ian Dawson, Subject matter expert, US
• Claire Morrow, Global Employer Services, US

India's Equalization Levy: What comes next | 3 November

Internationally, the widespread growth in digitization of business has created challenges in allocation of taxes between market jurisdictions and headquartered jurisdiction. While the OECD has been working on arriving at a consensus on taxation of the digital economy, based on the recommendations in the BEPS action plans, many countries, have either proposed or implemented a unilateral Digital Services Tax. Further, the United Nations has introduced a proposal in the form of Article 12B (Income from Automated Digital Services) possibly in a bid to give a simple and easy to implement solution. India was the first country to introduce a digital tax called the "Equalization Levy" in 2016 on online advertisement services purchased from non-resident companies and from 1 April 2020, the scope of the Equalization Levy has been expanded to include levy on all online sale of goods or services into India by non-resident e-commerce operators. In this session, we'll discuss the following:

• Update on OECD's position on Pillar One and Pillar Two.
• Overview of the UN's Proposal on income from Automated Digital Services – Article 12B.
• Asia Pacific update on Digital Services Taxes or other responses.
• India's Equalization Levy.
• Case studies on the Indian experience.

Stay updated on the latest developments on digital services taxes and the Indian Equalization Levy and its impact on your organization.

Subject matter experts: Manoj Kumar, Radhakishan Rawal, Shefali Goradia

G20/OECD Inclusive Framework on BEPS: Reports on Pillar One and Pillar Two Blueprints | 27 October

On 12 October 2020, OECD released a package consisting of the reports on the Blueprints of Pillar One and Pillar Two. These Blueprints give details of the architecture and policy rationale of the proposed solutions. These represent a significant departure from the current framework of international taxation and allocate higher taxing right to the market jurisdictions.

Mr. Rasmi Ranjan Das, Joint Secretary (FT&TR-I), CBDT will share his views on the proposed solutions. The event will predominantly focus on Pillar 2 proposals with high-level comments on Pillar One. We will discuss the following along with examples:

· Income Inclusion Rule (IIR)

· Undertaxed Payment Rule (UTPR)

· Switch-over Rule (SOR)

· Subject to Tax Rule (STTR)

Guest speaker: Rasmi Ranjan Das, Joint Secretary (FT&TR-I), CBDT, Department of Revenue, Ministry of Finance

Subject matter experts: Ashutosh Dikshit, Radhakishan Rawal, Shefali Goradia, Vishweshwar Mudigonda

India's shift from dividend distribution tax to taxing the shareholder: Issues, challenges, and opportunities | 20 October

India has abolished its two-decade-old levy of dividend distribution tax on domestic companies and moved back to the classical system of taxing dividends in the hands of shareholders. Domestic companies will now therefore have to comply with withholding tax provisions on dividend declared. We'll also discuss:

• Impact on the shareholders.
• Concept of beneficial ownership under tax treaty.
• Impact of General Anti-Avoidance Rules (GAAR), Principal Purpose Test (PPT), and Multilateral Instrument (MLI).
• Availability of lower rate under Most Favoured Nation (MFN) clause.
• Documentation to be maintained by domestic companies.

Gain insights on how this will impact your organization.

Subject matter experts: C.A. Gupta, Rashmi Maskara, Sujit Parakh

Gearing up for the labour codes – Code on Wages | 7 October

The Ministry of Labour and Employment, Government of India has taken an important initiative of simplification and amalgamation of numerous central labour laws into the following four labour codes:

1. Code on Wages,
2. Code on Social Security,
3.  Code on Industrial Relations and
4. Code on Occupational Safety, Health and Working Conditions

The Code on Wages which was enacted in August 2019 is awaiting notification for the effective date. The draft rules were also published earlier this year, and stakeholder suggestions were invited. We expect the revised rules to be published soon.

The other three codes have also received the Presidential assent and now awaiting the notification of the effective date.

Deloitte Touche Tohmatsu India LLP invite you to join us for a knowledge-sharing session by subject matter experts, on the compliance aspects relating to the Code on Wages read with the draft rules.

Agenda for the webinar:

• Overview of the Code on Wages
• Analyse the key features of the Code, i.e., definitions, applicability, procedural requirements, and understanding the impact of the same
• Discuss the compliance requirements, challenges and concerns

Subject matter experts: Nitin Shingala, Saraswathi Kasturirangan, Radhika Viswanathan, Tarun Garg

Redefining priorities for global mobility, rewards, and talent Webinars on respond, recover, and thrive | 30 September

COVID-19 has been impacting travel, ways of working, and ways of living around the globe. During this time, leaders are being asked to not only react to ever-changing global events, but also plan for the future, manage business continuity, learn and emerge stronger, and prepare for the next normal.

A typical crisis plays out over three time frames:
• Respond, in which a company deals with the present situation and manages continuity;
• Recover, during which a company learns and emerges stronger;
• Thrive, where the company prepares for and shapes the “next normal”.

We are organising a series of webinars on the three stages, covering the following aspects:

Series-1 (Respond)

We will discuss how an organisation deals with the present situation and manages mobility, rewards, and talent for business continuity:
• Workplace and policy | revising work arrangements
• Compliance and regulatory | re-evaluating the future of employee mobility
• Economic and tax relief | understanding stimulus packages

Subject matter experts: Saraswathi  Kasturirangan (India), Joel Eisenreich (Global), Michelle Fertig (Global), Chaitanya N Sreenivas (VP HR & HR Head India South Asia at IBM)

Gearing up for the labour codes | 15 September

The Ministry of Labour & Employment, Government of India has initiated steps to simplify, amalgamate, and rationalise numerous central labour laws, into the following four labour codes:
1. Code on Wages
2. Code on Social Security
3. Code on Industrial Relations
4. Code on Occupational Safety, Health and Working Conditions

The Code on Wages was enacted in August 2019 and is awaiting notification for the effective date. The draft Code on Social Security has been reviewed by the Parliamentary Standing Committee and is subject to recommendations shared by them. We expected this to be enacted shortly as well.

We invite you to join us for a knowledge- sharing session by Deloitte subject matter experts, on gearing up to meet the challenges of adopting the Code on Wages and the Code on Social Security.

Agenda for the webinar:
• Overview of the specified codes
• Analysis of various definitions and understanding their impact
• Areas of focus and possible challenges

Subject matter experts: Nitin Shingala, Saraswathi Kasturirangan, Radhika Viswanathan, Tarun Garg

Elevate your mobility program through data analytics | 8 September

Mobility eco-systems are evolving and have become more and more complex over time. In a post COVID-19 era, what will mobility and the eco-systems we know look like? How organizations use and make the most of their data will underpin how you support your globally mobile workforces and navigate this new normal. We'll discuss:

• Trends in data management, analytics, and insights they might bring to mobility programs.
• Strategies for advancing the use of mobility analytics, including industry practices and market solutions.
• Building the business case for change and the budget to enact it, including factors that can make an effective case.
• How government authorities in Asia Pacific leverage data to make compliance requirements simpler for your mobile employees.

Gain insights on how organizations are leveraging data to elevate their mobility program, and make forward-thinking decisions about deploying global talent.

Post COVID-19 changes and transformations in the operating model: A focus on China and India | 18 August

While the COVID-19 pandemic may have constrained you physically to work from home, this critical moment breaks the brick-n-mortar of your decision-making at functional level. If the digitalization before COVID-19 is the innovation of the leader or the icing on the cake of the conventional business, then the operation digitalization during the pandemic is becoming the inelastic demand for the enterprise to maintain operation. Companies are increasingly engaging across traditional organizational boundaries and faced with business questions such as: What to do to unleash cash flow potential? How to adjust the supply chain? Which new technologies and business models will emerge from this crisis? In the post COVID-19 era, enterprises' non-contact automation, intelligence and digital business operation capabilities not only ensure the smooth and orderly operation of business, but also promote the efficiency and compliance of the back office operation. Thus, change is coming. We'll discuss:

• Tax and regulatory perspective.

• Changes in operating model.

• Practical case studies.

• Cash flow optimization options.

• The way forward.

Find out what could help your organization to respond to the new challenges from digital transformation to digitalization operation and begin to move towards a new “usual”.

India's GST update: Impact, challenges, and what's next | 11 August

It has been three years since the introduction of Goods and Services Tax (GST), India's biggest tax reform, on 1 July 2017. It has been a fascinating ride for the Government, industries and consumers, due to the host of changes and reforms introduced in the past three years. These changes were primarily focused on rationalizing rates, simplifying procedures and curbing tax evasion. Stabilizing one of the world’s biggest online tax systems, i.e., GSTN, was also a key focus area for the Government. A world-class, simplified, and technology-enabled robust GST system is not only critical for a sustainable growth, but also imperative for the ease of doing business. In the next few years, the Government may take steps to further simplify the GST law. These steps can prove to be a harbinger of growth at a time when the entire world is affected by the COVID-19 pandemic. We'll discuss:

• How successful has this historical tax reform been in achieving its desired objectives

• What has worked well for the Government and taxpayers?

• What are the key challenges facing the industry?

Stay ahead on India's GST developments to better prepare your business for the future.
 

Preparing the manufacturing sector for post COVID-19 | 18 June

The manufacturing sector has been adversely affected by COVID-19, and bouncing back is going to have several implications. Re-starting the business after the lockdown, calls for changes and support business revival and growth.
While the Central and State Government’s measures may help the manufacturing units to stand up, corporate leaders need to put in place new business plans on different taxes and improve their prospects in these difficult times.
We invite you to join for an interactive knowledge sharing discussion shared by Deloitte Subject Matter Experts on closely monitoring the COVID-19 impact on the manufacturing industry.
Agenda for the webinar:
• Cash optimisation measures
• Government incentives for manufacturing
• Strategies for business efficiency

COVID-19: Global trade impacts and considerations | 2 June

To respond to the threat posed by the COVID-19 pandemic, governments across the globe are developing policies to protect the public and to help businesses deal with its impact. Deloitte Global Trade Advisory (GTA) professionals throughout the world are monitoring developments with respect to trade regulatory measures and its impact to businesses. We'll discuss:

• Recent trade regulatory developments in Asia Pacific.
• What trade measures businesses can consider as they seek to recover from the impact of COVID-19.
  

Stay updated on the latest developments on trade regulatory and its impact on global trade.