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 :: TDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: empanelment :: form 3cd :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD
 
 
Direct Tax »
 Companies must drop retro tax cases to avail settlement scheme: CBDT
 FinMin may review tax regime on long-term capital gains
 Income tax return: TDS refund on capital gains invested needs to be instant
 CBDT holds circular on indirect tax provisions
 CBDT puts on hold circular on taxation of indirect transfer of shares
 CBDT prods officials to meet tax collection targets
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
  FM Arun Jaitley may drop tough tax accounting rules
 FM Arun Jaitley may drop tough tax accounting rules
 How to view your TDS through form 26AS?
 Deduction of tax at source Income-tax deduction from salaries under section 192 of the Income-tax Act, 1961

MNCs parking profits in tax havens a challenge for I-T Dept
April, 29th 2013

The practice of multinational companies parking their profits in tax havens to evade or avoid taxes is a challenge for the I-T department and it should positively tackle these issues, President Pranab Mukherjee said here.

“More than three-fourth of business transactions of the multinational companies is being done through their various units,” he said.

The basic objective of such units is to locate places where rate of taxation is low to evade or avoid tax, he said.

“Transfer pricing is one of the most complicated task which you (I-T officers) shall have to discharge and I have no doubt you will render excellent services to your motherland,” Mukherjee said as he complimented 115 passing out officers of the 65th batch of the Indian Revenue Service (IRS).

The batch had joined the portals of the National Academy of Direct Taxes (NADT) here, the alma mater of IRS (I-T) officers, in 2011 after clearing the civil services exam.

Mukherjee’s statement assumes relevance as India, along with a host of emerging economies of the world, is working towards a streamlined tax regime where the due revenue of a country is collected at the appropriate jurisdiction and the relevance of tax haven jurisdictions is negated to the least.

India is an active member of top economic bodies such as the Organisation for Economic Cooperation and Development and Financial Action Task Force to realise these objectives.

The President said India has inked a number of Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreement (TIEA) which has made it easier to obtain banking information from a foreign country in cases of cross-border tax evasion.

“Some of the recalcitrant countries are now compelled to divulge information about tax avoidance and evasion, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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