India and the Hong Kong entered into a double tax avoidance agreement on November 10, 2017. The DTAA will provide clarity regarding tax rates and tax jurisdictions; firms will now be taxed in only one of the signatory countries.
India’s automatic exchange of information pact (AEOI) with Switzerland will take force in 2018, and the first exchange of information will take place in 2019. This will boost India’s efforts to track black money and curb tax evasion.
India’s federal tax body has sent tax notices to more than 200 companies in the IT sector claiming for return of export benefits enjoyed by such firms over the last 5 years plus service tax and fines. Here we briefly discuss the main contention.
Last week, the GST Council announced several revisions to the indirect tax regime, making it more business-friendly. In this article, we highlight the most significant changes announced.
India’s federal tax body has extended the final date for filing income tax returns (ITR) and submitting reports for audit for FY 2016-17. This time around taxpayers will need to disclose their Aadhaar number, and additional banking and financial information.
The festive season in India involves the exchange of gifts; however, companies should note that certain exchanges may attract liability under various domestic and foreign anti-corruption statutes. This article highlights key compliance strategies for firms to minimize such risk exposure.
The new Goods and Services Tax (GST) regime introduces the reverse charge mechanism (RCM) to ensure the government receives tax on supplies of goods and services by unregistered suppliers. This article briefly discusses the mechanism.
Under GST, the tax rate on all staffing firms is pegged at 18 percent. This article discusses the impact of GST on the flexible staffing industry, and its impact on doing business in India.