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India Seeking To Resolve International Tax Disputes

by Mary Swire, Tax-News.com, Hong Kong

24 August 2015


India will soon settle international tax disputes with close to 120 American companies as well as entities from Japan and other such countries, according to the nation's Revenue Secretary Shaktikanta Das.

Earlier this month, India announced a Framework Agreement under the mutual agreement procedure provision of the India-US tax treaty to resolve transfer pricing disputes with the US.

Addressing a two-day international tax conference organized by the PHD Chamber of Commerce and Industry on August 21-22, 2015, in New Delhi, Das said that "the intention of the Government is not to double tax the foreign entities without compromising on principles of domestic tax turf as each country across the world protects its tax turf. The Government will put in place a just and fair tax regime to collect revenues required for growth and avoid tax regime that is painful."

According to the Government, so far, 35 disputes have been resolved and another 100 are likely to be resolved in the next three months. The Government also said that a number of unilateral and bilateral advance pricing agreements (APAs) with the UK and Japan are at an advanced stage of negotiations.

Das added: "The Ministry of Finance is making all possible attempts to resolve tax-related disputes through proper dispute mechanism framework agreement with global as well as domestic companies with a spirit of equity and fairness so that the growth being aimed at is scaled and additional employment opportunities created as intended by the Government."

The event saw senior Government officials and leading international tax experts discuss issues including transfer pricing; cross-border investments; exchange of information; base erosion and profit shifting; and other recent developments in international tax.

G C Gupta, Vice President, Income Tax Appellate Tribunal, said that "much attention should be given for finding out ways to reduce the vast pending litigation relating to transfer pricing and international tax matters."

TAGS: compliance | Finance | tax | investment | business | tax compliance | India | tax avoidance | law | United Kingdom | enforcement | tax authority | offshore | agreements | multinationals | tax planning | transfer pricing | advance pricing agreement (APA) | United States | tax reform | standards | regulation | trade | Japan | Tax

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