Saturday , September 21, 2019 |   10:41:37 IST
INTL TAXATION INTL MISC TP LIBRARY VISA BIPA NRI
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NEWS FLASH
 
TP - Intra-group services cannot be benchmarked at Nil, if payment is made at cost without any markup and attribution was made on basis of methodology adopted for recovering expenses from all group entities: ITAT (See 'Breaking News') DTAA - If effective management of enterprise is not in one of Contracting States, but is situated in third state, then benefit of Treaty with Contracting State cannot be extended: ITAT (See 'Breaking News') I-T - Payments made overseas towards purchase of software which is actually of nature of 'reimbursement of expenses', attracts no withholding tax liability u/s 195: ITAT (See 'Breaking News') Govt enacts Ordinance creating two corporate tax slabs at 15% & 22% (See 'TII Brief') Total revenue foregone to be over Rs one lakh crore: FM CSR funds can be spent on incubators, national universities and R&D laboratories: FM Relief to Listed Companies - Tax on buyback of shares exempted FM withdraws enhanced surcharge on capital gains arising out of sale of equity share by Trust, HUF, BOI and others + Benefits also extended to sale of derivatives and securities by FPIs FM announces no relief for existing companies in corporate tax rate if they opt not to join concessional tax regime but can join it after tax holidays are over + MAT tax rate reduced from 18.5% to 15% Govt announces reduction in corporate tax rate through Ordinance + Domestic Companies allowed to pay 22% corporate tax rate if no exemption is availed + No MAT to apply to such companies + New Companies making investment in manufacturing and registered after October to pay only 15% corporate tax rate OECD sees weakening momentum of economic growth in India; pegs it at 5.9% for current fiscal Global economy becoming more fragile: OECD (See 'Brief') Sharing of tax information received under DTAA - CBDT reiterates no sharing with CBI & others unless permission taken from tax jurisdiction sending info (See 'Bulletin Board') I-T - Commission paid to non-resident agents in respect of sales affected outside India, cannot be held chargeable to tax in India: ITAT (See 'Breaking News') TP - Entities engaged in diversified activities for which no segmental reporting has been provided, are unfit for purposes of comparison: ITAT (See 'Breaking News') TP - Functional dissimilarity & failing related party transaction expenses, renders such concern unfit for purposes of comparison: ITAT (See 'Breaking News') TP - TPO should not compute margins of taxpayer entity by taking into consideration only segmental revenue of one of its division: ITAT (See 'Breaking News') GST Council's Goa Meet - Torrid time lies ahead! (See 'THE COB(WEB)' in TIOL)
 
 
 
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TII BREAKING NEWS
 
TP - Intra-group services cannot be benchmarked at Nil, if payment is made at cost without any markup and attribution was made on basis of
DTAA - If effective management of enterprise is not in one of Contracting States, but is situated in third state, then benefit of Treaty with
I-T - Payments made overseas towards purchase of software which is actually of nature of 'reimbursement of expenses', attracts no withholding tax liability u/s 195:
I-T - Commission paid to non-resident agents in respect of sales affected outside India, cannot be held chargeable to tax in India: ITAT
< More News >
 
TII SPECIAL Aug 14, 2019
 
Multilateral Instrument - The clock is ticking!!
By Samir Shah and Hitesha Surana

ON 25 June 2019, India deposited its instrument of ratification for Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), along with the list of reservations and notifications.This article discusses the basic concepts of MLI, reason and the mechanism for implementation of MLI and India's position with respect to certain

 
TII EDIT Aug 21, 2019
 
Privilege in Paradise
By D P Sengupta

SWITZERLAND based Glencore Group is one of world's largest mining and agricultural conglomerate having operations across the world. However, it earned world-wide notoriety after the International Consortium of International Journalists (ICIJ) published the Paradise Papers (in November, 2017) containing data from the Bermuda based law firm Appleby that was leaked

 
BULLETIN BOARD
 
New Delhi, Sep 18, 2019
Sharing of tax information received under DTAA - CBDT reiterates no sharing with CBI & oth...
New Delhi, Sep 17, 2019
GAAR - CBDT amends Rule 10UC in relation to application to be made in Form 3CEIA to approv...
New Delhi, Sep 12, 2019
CBDT notifies e-assessment scheme under Sec 143(3A) ...
New Delhi, Sep 12, 2019
CBDT notifies 289 as Cost Inflation Index for FY 2019-20 ...
< More News >
 
TII BRIEF
 
Washington DC, Sep 20, 2019
Carbon tax to act as incentive for revenue generation in Bangladesh ...
New Delhi, Sep 20, 2019
Govt enacts Ordinance creating two corporate tax slabs at 15% & 22% ...
Paris, Sep 20, 2019
Global economy becoming more fragile: OECD ...
Paris, Sep 13, 2019
G20 growth down to 0.7% in Q2 ...
Washington, Sep 11, 2019
IMF calls for more streamlining of withholding tax to facilitate capital market union ...
 
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