Other Briefings
India Issues Re-Assurances over Tax and Retroactive Legislation
India’s Finance Minister Pranab Mukherjee has scotched media reports concerning the intentions of India’s new tax regulations, and has pulled back on GAAR until April 2013.
India Issues Ruling on Transfer Pricing Aspect of Royalty Payments
The High Court has ruled that royalty payments cannot be prohibited on instances of continuous loss where the spending was proven to be incurred “wholly and exclusively” for the purpose of the business of the Taxpayer.
Small Firms and Individuals May Be Exempt from GAAR, Postponement Also Possible
In an attempt to soften the blow of the General Anti-Avoidance Rules (GAAR), India’s Finance Ministry is considering postponing the implementation of the new regime and may completely exempt small firms and individuals.
PAN Application Procedures For Foreign Nationals In India
Apr. 11 – In this article, we describe the proof of identity and proof of address requirements associated with the application of a permanent account number (PAN) for Indian citizens outside of India, foreign citizens located in India, and foreign citizens located outside of India. Citizen of India located outside India at the time of […]
India to Define Minimum Stake in Joint Ventures
The expected definition of a joint venture under a new draft of the consolidated FDI policy will raise the minimum level of investment each party must take to 25 percent.
India to Revive FDI into Aviation, Multi-Brand Retail
Indian Commerce Minister Anand Sharma has stated that the government decision concerning restrictions to foreign investment into the country’s multi-brand retail sector were “just a pause” and had not been scrapped.
Indian GAAR Impacts on Mauritius Tax Haven Use
India’s new General Anti-Avoidance Rules kicked in from April 1, and it looks like they will have an immediate impact on the use of Mauritius as a tax haven for investing in India.
India Increases Service Tax Rate
In the Annual Budget for 2012-13, the Finance Minister has proposed to increase service tax to 12 percent from the previous rate of 10 percent. The new rate came into effect from April 1, 2012.
