India proposes to exempt foreign companies with a permanent establishment in India in oil drilling, shipping, air transport, and turnkey construction projects from the MAT. Instead, these companies will only need to pay a presumptive tax.
Tightening regulation of permanent establishments in India follows from BEPS Action Plan 7, which toughens the definition of the business connection regime. Here, we discuss the new rules for Agency Permanent Establishments and Digital Permanent Establishments.
India has a largely positive view when it comes to entering into double tax agreements with other nations. This article examines how DTAAs can impact foreign firms and their India investment strategy.
A company, whether Indian or foreign, is liable to pay corporate income tax under the country’s Income Tax Act, 1961. Here we state the CIT structure in India.
India will now accept requests for mutual agreement procedures and bilateral advance pricing agreements in transfer pricing disputes with all countries irrespective of the existence of specific provisions in the Double Taxation Avoidance Agreements (DTAAs).
In this issue of India Briefing magazine, we take a look at the bilateral and multilateral trade agreements and DTAAs that India has in place.
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.