CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. India Sets Up Tax Simplification Panel

India Sets Up Tax Simplification Panel

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

29 October 2015


The Government of India announced on October 26 that it has constituted a committee tasked with recommending ways to reduce disputes between corporate taxpayers and the tax authority and improve the overall tax framework.

The ten-member committee is chaired by former Delhi High Court judge R.V. Easwar and includes experts from the legal, tax, and finance professions. Under its terms of reference, the committee is charged with identifying provisions and phrases in the Income Tax Act 1961 that are leading to litigation due to differing interpretations. It will also propose changes aimed at simplifying tax compliance and bringing about more legal certainty, but without "substantially" impacting on the tax base or tax revenue.

The Government has requested that the committee deliver its first batch of recommendations by January 31, 2016. Legislative amendments based on these recommendations could then be announced in next year's annual Budget.

The new committee is just one of a number of initiatives launched by the Government to improve the tax environment and win back the trust of investors following a series of high-profile disputes between the tax authorities and multinational taxpayers. Earlier this month, senior officials from the Ministry of Finance and the Reserve Bank of India met representatives from more than ten foreign portfolio investors to discuss ways to ease the burden of doing business in India. And in September, Revenue Secretary Hasmukh Aadhia began a series of "detailed" meetings with business associations and representatives of industry on tax policy.

TAGS: environment | compliance | Finance | tax | business | tax compliance | India | budget | tax authority | transfer pricing | Tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »