Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT Audit :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment
 
 
Indirect Tax »
 What is a belated income tax return and what are its consequences
 Why rejig of financial year could upset your tax planning
 The threat of harsh penalty should not impede tax compliance
 What are the tax exemption limits for allowances, reimbursements paid to employees? Find out
 High-income taxpayers to get priority treatment and extra facilities
 GST input tax credit rules: How taxpayers will benefit from ITC
 More complications in filing income tax returns
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018
 CBDT asks Income Tax officials to pull their socks up as revenue collection not satisfactory
 Nearly 15 pct growth in direct tax collections for fiscal 2017-18
 Transformation of indirect taxation landscape

Tax issues out of future bilateral treaty
December, 17th 2015

Tax disputes are to no longer form a part of a Bilateral Investment Treaty (BIT) signed by the government with another country, the Union Cabinet decided on Wednesday, clearing a revised model text

The idea is that foreign companies finding themselves in a tax row with the government will not be able to invoke the investment treaty their parent country has signed with India, the case at present.

For instance, British telecom major Vodafone had invoked the India-Netherlands Bilateral Investment Promotion and Protection Agreement (Bippa, it is formally registered in the latter country), seeking international arbitration in its long-drawn Rs 20,000-crore tax dispute, following the cancellation of conciliation talks. Similarly, Finnish mobile handset maker Nokia resorted to this for resolving the tax department's claim of liability, existing and anticipated, for seven years from 2006-07. Cairn Energy, too, recently demanded compensation under the ambit of the India-UK Bippa, from India for the Rs 10,200-crore tax notice slapped on Cairn India.

The government has signed Bippas with 72 nations. It has signed but not yet enforced these with an additional 11.

The revised model BIT, to be used now for renegotiation of existing treaties and for new ones, excludes matters such as government procurement, taxation, subsidies, compulsory licences and national security.

It also has a number of other measures which aims to make it difficult for foreign companies to seek arbitration against Indian authorities, through restrictions on dispute resolution tribunals and their jurisdiction, when compared with the existing Bippa text.

The essential features of the new BIT include an enterprise-based definition of investment, non-discriminatory treatment, protections against expropriation, a refined Investor State Dispute Settlement (ISDS) provision requiring investors to exhaust local remedies before commencing international arbitration, and limiting the power of the tribunal to awarding of monetary compensation.

“The new model text will provide appropriate protection to foreign investors in India and Indian investors in the foreign country, in light of relevant international precedents and practices, while maintaining a balance between the investor's rights and government obligations,” went an official statement on Wednesday.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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