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India Budget 2015

Global Tax Update:March 2015/India

The Indian Budget was announced on 28 February 2015. In his speech, the Finance Minister advocated an enabling tax policy and has taken board measures in the tax proposals to curb parallel economy, to focus on job creation through revival of growth and investment and promotion of domestic manufacturing and ‘Make in India’ program, and to ensure minimum government and maximum governance to improve the ease of doing business. (Global Tax Update:March 2015/India)

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This newsletter explains following topics;

(1) General anti-avoidance rule deferred
(2) Rationalisation of indirect share transfers
(3) Withholding tax on royalties and technical service fees reduced
(4) No permanent establishment exposure pursuant to offshore fund managers operating out of India
(5) Other key corporate tax amendments
(6) Goods and Services Tax
(7) Changes in effective rate of indirect taxes and duties
(8) Facilitation and simplification measures in indirect taxes


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