Latest Expert Exchange Queries

Make 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) | 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: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: form 3cd :: VAT RATES :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: list of goods taxed at 4% :: TDS :: VAT Audit :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company
 
 
ę Direct Tax »
 No penalty for late ITR this year but here are 4 important reasons to file it in time
 12% growth in income tax collection
 CBDT gameplan to enhance TDS collection
 Don't curry political favours for transfers, CBDT tells taxmen
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately
 Last Date To File Income Tax Return. Here Are The Details

Courts transfer pricing decision could cost taxman hundreds of millions of euros
July, 15th 2014

Finland’s Tax Administration has lost a landmark court case on transfer pricing. The Supreme Administrative Court’s ruling means the taxman could now lose out on hundreds of millions of euros in tax.

The Finnish Tax Administration could lose out on millions of euros in tax from multinationals after a decision from the Supreme Administrative Court on transfer pricing. Transfer pricing is the practice whereby companies with operations in multiple countries buy and sell services and sometimes make loans between subsidiaries, sometimes with the aim of lowering their tax bill.

Finnish tax officials have been investigating transfer pricing by multinationals for more than a year, and now their work may have been in vain.

“The Supreme Administrative Court has taken a very clear stance on the boundaries of interpretation on transfer pricing and naturally the Tax Administration will follow this line in the future,” said the Tax Administration’s leading expert Jari Salokoski.

According to Salokoski no bills had yet been sent to companies over transfer pricing and therefore it will be easy for his officials to follow the court’s guidance. The decision relates to loans made between subsidiaries of companies with operations in Finland and abroad.

If a parent company based abroad loans money to a subsidiary based in Finland, the companies themselves have considered the interest on the loan to be tax deductible. The tax man has seen the issue differently, viewing the money as external capital that is not tax deductible.

The court has now ruled against the tax administration with one company happier than most. Fortum has asked for a 136 million euro tax bill to be corrected, and according to the company’s head of tax affairs Reijo Salo the firm now expects that request to be accepted.

“The court has ruled on all the questions of principle that we too had put forward,” said Salo. “In my opinion the decision is quite clear.”

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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