OECD - Page 5

MLI synthesised text for India- Japan tax treaties

Synthesised text of MLI and Convention between Government of Japan and Government of Republic of India for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income....

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Posted Under: Income Tax |

Taxing Royalty Payments in Digital economy

In our Transfer Pricing world, the OECD has duly acknowledged the fact that the business environment has evolved due to change in technology and digitalization. The efforts of OECD to walk hand in hand with the ongoing evolution of technology is visible from its work in Action 1 – Digitalisation, Business Models and Value Creation, wher...

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Posted Under: Income Tax |

Fundamental of Base Erosion and Profit Shifting

Base Erosion and Profit Shifting (BEPS) has emerged as one of the most important challenges for governments all over the world. The Liberalization, Privatization and Globalization (LPG) has resulted; Free movement of Capital and Labour; Shift of manufacturing base from high cost to lower cost locations; Gradual removal of the trade barri...

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Posted Under: Income Tax |

Solving The Dilemma of Dual Residence

This paper aims at analysing the tie-breaker test in determining residence in the OECD as prescribed under Article 4(3) and how it is evolved. It analyses the 2017 update to the OECD which prescribes the Mutual Agreement Procedure (MAP). The paper finally provides a method of properly implementing MAP and how it can be effectively done so...

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Posted Under: Income Tax |

Income Tax Updates for May 2019

NEWS DIRECT TAX 1. CBDT notifies TIEA between India-Marshall Islands. [Notification no 40/2019/F.No. 503/1/2018-FT & TR– IV] 2. Form 15H can be furnished if no tax payable on income after sec. 87A rebate. [Notification No. 41/2019/F. No. 370142/5/2019-TPL] 3. CBDT releases draft notification proposing new audit report Form for Trust...

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Posted Under: Income Tax |

Curbing the Intangible Shenanigan – Hard to value Intangibles

Anurag Agrawal Introduction Over several decades and in step with the globalisation of the economy, intra group transactions have grown exponentially world-wide especially related to intangible assets. The word “intangible asset” is intended to address something which is not a physical asset or a financial asset, which is capable of b...

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Posted Under: Income Tax |

Thin Capitalization – Section 94B

India has time and again shown its commitment to BEPS initiative of the OECD and introduced several reforms in domestic tax legislation to plug loopholes, strengthen information sharing between the contracting states and prevent double non-taxation. In line with its commitment, vide Finance Act 2017; the government has introduced measures...

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Posted Under: Income Tax |

Overview of Multilateral Instrument (MLI)

‘Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting’ (MLI for short) is the official title of the multilateral treaty framework that aims to prevent BEPS. Base erosion and profit shifting (BEPS) refers to artificially shifting profits to low or no-tax locations where there is l...

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Posted Under: Income Tax |

Thin Capitalisation introduced under Income-tax with FAQs

In order to curb structuring by the multinational group Companies having their presence through subsidiaries/ associate companies or permanent establishments in India, the Finance Act 2017 introduced a new section 94B under the Income-tax Act, 1961 (the Act), in line with the recommendations of OECD BEPS Action Plan 4...

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Posted Under: Income Tax |

Country by Country Reporting (CbC Reporting) – India’s Step Forward to OECD’s BEPS Action Plans

The OECD report on Action Plan 13 of BEPS Action plan provides for re-examination of transfer pricing documentation. It also provides for a template for country-by-country reporting of income, earnings, taxes paid and certain measure of economic activity. ...

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Posted Under: Income Tax |

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