Transfer pricing rules with wider ambit soon


The government might change transfer pricing provisions in Budget 2016-17 to ensure companies with overseas presence and consolidated revenue of more than Rs 5,000 crore comply with extensive data reporting and documentation.

Legislative changes in the Income Tax Act would be in line with the Base Erosion and Profit Shifting (BEPS) measures unveiled by the Paris-based think-tank, the Organisation for Economic Co-operation and Development (OECD), in October last year to curb tax evasion by multinational companies. Read Articles 

Comments

Post a Comment

Popular posts from this blog

The biggest political challenge of 2016

Image
Assembly elections are due in the summer of 2016 in five places: Assam & West Bengal in the east and Tamil Nadu, Kerala and Puducherry in the south. These account for 116 Lok Sabha seats. The ruling BJP has little or no political capital here. How will the outcome of these elections influence national politics? Business Standard presents the facts ( Click here for detailed report ) 
Read more

Waterways is game changer, mass rapid transport on electric to be India's future

Image
Waterways is game changer, mass rapid transport on electric to be India's future The Centre has accorded top priority to cost-effective, pollution free and import substitute transport. Besides, integrated transportation to reduce logistic cost and increased road safety. Union Minister of Roads, Highways, Ports and Shipping   Nitin Gadkari   explains the government’s strategy In an interview with   Sanjay Jog . Q: What will be the government's approach for integrated transport since transportation is a major part of industry cost? A:   Our effort is for cost effective, pollution free and import substitute transport. This means implementation of roads, highways, railways, ports, waterways, shipping, and airports in a time bound manner. The plan to connect them, integrate them. Shipping industry will be made LNG-based which is pollution-free and cost effective. The ministry will encourage operations of sea planes, catamarans, hover crafts and cruise ships. A...
Read more

NSG to take up Pakistan, India's membership requests this week

Image
NSG to take up Pakistan, India's membership requests this week The Nuclear Suppliers Group (NSG) 2016 annual plenary, which begins in   Seoul   on Monday, will take up membership requests from both   India   and   Pakistan   on June 23-24. According to   Dawn , Pakistan submitted its membership application on May 19, a week after India, which applied on May 12. With massive global support, India stands as a favourite to join the 48-nation group, with an active support from the United States, Russia, Britain, France and other world powers. China, however, stands as an obstacle to India's application, arguing that it would enhance a nuclear competition in South   Asia   by isolating Pakistan. China   wants   NSG   to admit Pakistan as well, pointing out that both India and Pakistan possessed nuclear weapons and had not signed the NPT. While China may not force the NSG to admit Pakistan, it can block India as new m...
Read more