New Indian tax rules could hit UK companies
New Indian tax rules could cause some grief for foreign companies working in the country, say experts
New Indian tax rules could cause some grief for foreign companies working in the country, say experts
Britain’s biggest companies may have to revise their tax planning after India
proposed controversial new tax laws.
The new laws could see a foreign company with management presence in India
considered tax resident in the country, with global revenues taxed at 25%.
Ernst & Young
partner Pranav Sayta told
The
Times that the “ambiguous” proposals could hurt foreign
investment in the region.
Another expert suggested that India could go back on its current tax treaties
in place with the UK.
“India is gearing up to renege on these tax deals,” said one expert.
India has taken a more aggressive tone on tax issues in recent years, with
Vodafone still fighting a multi-billion pound case, appealing a an earlier
decision in the courts which found it must pay $2bn on its $11bn acquisition of
local mobile group Hutchison Essar.
Further reading:
Vodafone appeals after losing $2bn
Indian tax case
More about:
The numbers you crunch tell a story. Your expertis...
15yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleDennis Nally resurrects morality versus law debate in tax affairs Read More...
View articleJason Lester named as UK & Ireland managing partner for tax at EY Read More...
View articleCompanies perceive greater tax risk from various sources over the coming two years Read More...
View articleEY appointed to review business rates and recommend changes Read More...
View articleCompanies' tax directors lack faith in tax system, finds EY Read More...
View articleGary Ashford joins Kinetic Partners from RSM Tenon Read More...
View articleCompanies must ensure they are transparent on their tax position if they don't want their affairs scrutinised, say readers Read More...
View articleA shift towards greater tax transparency is inevitable for both practice and business, but under what guise? Read More...
View article