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Companies anticipate tax authorities to turn aggressive
January, 18th 2016

Indian businesses are anticipating a "more aggressive" stance by tax authorities as their tax arrangements come under greater scrutiny, says a survey.

The findings are part of leading consultancy Deloitte India's BEPS (Base Erosion and Profit Shifting) survey titled 'Anticipating BEPS India impact'.

Indian businesses are anticipating a more aggressive stance by tax authorities in the future regarding hybrid instruments and interest deductions, it said.

About 65 per cent of the respondents either "agree or strongly agree" that although the tax authorities have not been aggressive in tax examinations of hybrid instruments and interest deductions so far, they are likely to do so going forward.

Retrospective amendments in India have significantly dented investor confidence in the past," it noted.

Further, the survey said vast majority of the respondents believe that regulators should consider and protect the interests of Indian headquartered multinationals while implementing BEPS recommendations in India.

The BEPS project is aimed at putting in place measures to prevent tax evasion and avoidance, including by multinational companies.

Anis Chakravarty, Partner at Deloitte India, said there is a heightened level of awareness among Indian companies on the impact of BEPS measures on their business operations and the likelihood of increased compliance.

The BEPS project is extremely relevant for India, especially the action plans dealing with treaty abuse, permanent establishment, intangibles, digital economy and transfer pricing country-by-country reporting," he added.

This India specific BEPS survey was conducted with a target audience of tax executives from multinational companies.

As per the report, survey respondents were from sectors like automotive, telecommunications, energy and resources, financial services and real estate.

 
 
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