Category: Tata

Budget 2016: 9% tax rate regime for India’s first International Financial Centre

The pet project of Prime Minister Narendra Modi – the International Financial Services Centre (IFSC) – housed in the Gujarat International Finance Tec City – has received a boost in the Union Budget 2016/17. The long pending tax issue has been decided with 9 per cent minimum alternate tax (MAT),...

Tata Steel to refinance $1.5bn offshore debt

Tata Steel’s Singapore arm T S Global Holdings Pte raised $1.5 billion debt to settle outstanding loans, the company said in a statement. Tata Steel group executive director-finance and corporate Kaushik Chatterjee said, “Tata Steel actively reviews all its financing options and seeks to continuously optimise its debt based on...

India: No Transfer Pricing Adjustment In Cases Where AE Is From High Tax Jurisdiction: Mumbai Tribunal

Transfer pricing adjustment cannot be made in a case where the tax rate in the country of the Associated Enterprise is higher than the Indian rate and where, accordingly, establishment of tax avoidance or manipulation of prices or establishment of shifting of profits is not possible. Only after proper application...

Relaxed tax residency rules to help MNCs

Foreign companies with Indian shareholders won’t have to pay taxes here for their worldwide income unless they are managed from India on an everyday basis. If these foreign companies are managed from outside India, whether or not they are promoted by resident Indians, they will have to pay taxes in...

Record View: Amazon morally obliged to pay up their share of tax

WHEN public spending is being slashed in a way that punishes the poor, every firm have a moral obligation to pay their fair share. AMAZON are taking an ever bigger share of the shopping market. Technological advances mean you can order something from their website late at night from your...

Editorial: TP woes continue

The government has done well to rein in the taxman to ensure that transfer-pricing (TP) additions fall in the last two audit rounds; from the peak of R70,000 crore in FY13, these have fallen to R60,000 crore in FY14, and then to R47,000 crore in FY15, as FE reported last...