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
Latest Expert Exchange
Indirect Tax »
 How is dividend income taxed Here’s all you need to know
 How is dividend income taxed Here’s all you need to know
 How is dividend income taxed Here’s all you need to know
 Several records missing from Income Tax department, CIC told
  Indirect tax evasion cases post a decline in FY18-19
 Income tax return revision: How many times can a return be revised? Find out
 CBDT notifies new I-T return forms
 Here are the key changes in tax rules to come into effect from today
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
 All education loans do not get income tax benefits

Indirect tax cost, bureaucracy among trade barriers for MNCs: Ernst & Young study
June, 11th 2013

Indirect tax costs, formal rules, restrictive regulations and bureaucracy can be barriers to international trade for multinational firms operating in rapid growing markets such as India, Russia, Brazil and Russia, a study by Ernst & Young said on Sunday.

"Multinationals are finding that indirect tax costs, formal rules, restrictive regulations and bureaucracy can be a barrier to international trade," Ernst & Young said in its report on Managing Indirect Taxes in Rapid-Growth Markets.

The report said global firms in these countries are concerned about management of indirect taxes.

"The need for effective management of indirect taxes in rapid growth markets (RGMs) to avoid unnecessary costs and risks and maximise market opportunities is the primary concern for many multinationals," it said.

The report also suggests that governments in such countries rely on indirect taxes to bolster revenues, reduce fiscal deficits and fund infrastructure projects.

However opportunities exist to improve business outcomes, speed up deliveries and reduce costs, it added.

"In countries such as India and Brazil, the application of multiple taxes and the rapidly evolving tax landscape also may increase these difficulties. Effective controls, robust processes/documentation, standardised procedures and the use of appropriate technology can help to improve accuracy and reduce risks," the report said.

Collaboration across functions and geographies, building relationships with trusted third parties and tax authorities can help make most effective use of scarce resources and avoid costly and protracted disputes, it said.

"Most RGMs have a complex indirect structure and India is no exception...This has what lead to demand for GST by stakeholders for the last few years.

"Though recent months has seen positive developments with consensus emerging on several areas between centre and state, implementation stills looks distant and not before the formation of a new government in 2014," Harishanker Subramaniam, Partner & National Leader -Indirect Tax Services, Ernst & Young, said in the report.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

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