Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: VAT RATES :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: empanelment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: form 3cd :: TDS
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

Treat foreign cos at par with domestic firms on taxes: FICCI
October, 29th 2008

Faced with massive outflow of foreign capital, FICCI on Sunday suggested the government to make taxation laws in the country attractive enough for FDI and bring down tax rates for overseas firms to a level that is at par with that for the domestic companies.

"Tax treatment of foreign companies' income from investment in India is one of the most important deciding factors to invest in the country," FICCI said, adding "it is therefore important to have our taxation laws attractive enough for encouraging FDIs."

Several countries, such as Malaysia, Thailand and China had, at different times, tax rates that favoured FDI over domestic direct investment.

Indian tax laws treat all companies incorporated in India equally, it said, adding "in fact, tax rates are higher with respect to Indian branches of foreign incorporated companies".

The current effective rate for foreign companies is 42.23 per cent, as against 33.99 per cent for domestic company.

Since the beginning of this financial year, India's foreign reserves have gone down by more than 35 bn dollars.

The industry body has also asked for a more enabling environment for Mergers & Acquisitions in the country. A provision should be inserted in the Income Tax Act, whereby dividends received from, as well as capital gains arising on the sale of shares in foreign companies in which an Indian company has an equity interest of 10 per cent or more, will be tax exempt or concessional taxed, it said.

Apart from ironing out the practical difficulties being faced by the international community in relation to Transfer Pricing regulations, FICCI has underlined the need for Advance Pricing Agreement (APA).

India also needs to introduce safe harbour rules to provide relief to taxpayers from detailed transfer pricing obligations under the law, the chamber said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions