A man is known by the company he keeps. But with the implementation of the Companies Bill 2009, a single person will constitute a Company, under the One Person Company (OPC) concept.As a structure for professionals, individual entrepreneurs, SMES and NGOs – the proposed Section 171 extends to Section 25 Companies as well – this is a godsend, as it insulates the shareholders personal assets from liability. But one wonders whether this Bill is the right platform or the timing is opportune. There have been too many writings on the Bill and its various dimensions. It is a critical piece of reform, which will be resisted and opposed by many.
As reported by us earlier The government is planning to comprehensively revise tax treaties with as many as 25 nations, including Switzerland and Mauritius, and re-negotiate with 51 others, to trace black money. The government plans a comprehensive revision of the existing tax treaties with 25 countries, including the Swiss Confederation, Mauritius, Malaysia, Norway and the Netherlands among others.
