The US has approved the largest rewrite of the US tax code in more than 30 years. The House of Representatives, which had already passed an earlier draft, is expected to give its final approval...
India is getting ready for its most ambitious tax reform in decades but not everyone is happy about the changes. The Goods and Services Tax (GST) is intended to draw millions of firms into the...
Mr. X was employed with a leading global manufacturing company Global Inc, in their Indian subsidiary, Global India. Due to global restructuring, Global Inc decided to close its operations in India, resulting in the termination...
‘ What is bought is cheaper than a gift ’, goes a Portuguese proverb. In the realm of Indian taxation, nothing could be further from the truth; for under the Income Tax Act, 1961 (“IT...
Budget 2016 introduced a new tax called Equalisation Levy (“EL”), aimed at taxing online transactions. EL was originally mooted by the OECD in Base Erosion and Profit Shifting (BEPS) Project Final Report on Action 1...
Mauritius has long been the favoured route for investment into India, because of the beneficial capital gains tax treatment offered under the India-Mauritius Double Tax Avoidance Agreement (“DTAA”). In a far-reaching change that will perhaps...
When a capital structure is altered – whether in a tax or no tax condition – it does impact the value creation for the shareholders of its firm. This is in contrary to the classic...
India’s low tax collections woes and the importance of Indirect taxes on India’s economic problems. Global data compendium CIA World Fact-book puts India’s tax collection at 9.3% of GDP, higher than only Nigeria, Syria, Sudan...
Authorities in Germany’s flooded Elbe river basin plan to plug a broken dike by sinking two barges in the gap. Federal and regional governments are arguing over how to finance 8 billion euros in flood...
Global companies, like Apple, have a plethora of possibilities to avoid paying taxes. Mostly, they use loopholes created by lawmakers. Now, these tax dodging schemes are coming under scrutiny. The Senate governmental affairs subcommittee in...
In India, power to tax agricultural income lies with the state governments. For a variety of reasons the state governments have been reluctant to introduce a full-fledged agricultural income tax, thus introducing a basic inequality...
In 2012, Joseph Stiglitz, the 2001 Nobel Laureate, one of the world’s foremost thinkers in contemporary economics, author of the 2012 best-seller titled “The Price of Inequality” was quoted in the New York Times as...
