Shell avoids the dividend tax via a tax haven, which would have cost the Dutch treasury – and therefore the taxpayer – at least € 7 billion… The intervention of a ‘trust’ on channel island of Jersey seems to underline the dubious character of the ‘deal’. Pressing Rutte to exchange… – Continue reading
Bidness Etc takes a look at how Shell-BG merger is right on track, after receiving approval from Australia’s Foreign Investment Review Board Royal Dutch Shell plc (ADR) (NYSE:RDS.A) is just one step away from closing a merger deal with BG Group plc. On Thursday, December 3, the Anglo-Dutch company received… – Continue reading
Notwithstanding the NDA’s election promise to end tax terrorism the dynamics on the ground belie easy fixes The National Democratic Alliance (NDA) government is seeking to prepare a road map to reduce existing tax litigation and look into increasing pecuniary threshold limits to discourage tax departments from launching new cases…. – Continue reading
The court overruled the order of Income Tax Appellate Tribunal issued last year suggesting that the income tax dept has jurisdiction in this dispute Mumbai: The Bombay high court on Thursday ruled in favour of the Indian arm of Vodafone Group Plc. in a Rs.8,500 crore transfer pricing tax dispute…. – Continue reading
New Delhi, Oct 4 (PTI) Legacy tax issues like those involving Cairn and Shell can be referred to AP Shah panel for quick resolution, says Chief Economic Advisor Arvind Subramanian who feels the old issues that have held back private investments also need to be worked out. Moving to defuse… – Continue reading
NEW DELHI: The finance ministry, seeking to build on the recent success in pitching India as an attractive destination, is looking at burying for good the remaining high-profile acrimonious tax tangles involving Cairn India and Royal Dutch Shell, which have tarnished the country’s administration. North Block is likely to replicate… – Continue reading
Nigeria’s 85 percent tax on onshore crude oil production is dissuading local investors from taking over assets from international oil companies, said Folorunso Alakija, an energy tycoon and the nation’s richest woman. Famfa Oil Ltd., founded in 1991 by Alakija, 64, has sought to acquire stakes in onshore oil fields,… – Continue reading
Over the past few months, several foreign portfolio investors registered in India have received notices from the Indian tax authorities demanding payment of Minimum Alternate Tax in respect of transactions which took place over the course of prior assessment years. The Indian Government has indicated that it could raise several… – Continue reading
Over the past few months, several foreign portfolio investors registered in India have received notices from the Indian tax authorities demanding payment of Minimum Alternate Tax in respect of transactions which took place over the course of prior assessment years. The Indian Government has indicated that it could raise several… – Continue reading
Oil giant Royal Dutch Shell has warned the increasing tensions generated by a planned crackdown on tax avoidance could have strong repercussions on the industry. Simon Henry, the FTSE 100 group’s chief financial officer, has urged political leaders to ensure global tax rules are not fragmented, claiming that a change… – Continue reading
MUMBAI: With its subsidiary Cairn India facing Rs 20,495-crore tax notice, billionaire Anil Agarwal-led Vedanta Group today said it is “frustrated” by the tax demand raised on it using retrospective legislation. The Income Tax Department had in March slapped a Rs 20,495 crore tax demand on Cairn India for failing… – Continue reading
NEW DELHI — India’s goal of a friendlier tax regime for global companies to help power China-beating economic growth is hitting a manpower hurdle. Fewer than 20 officials face the complex task of working with hundreds of multinationals on pacts to avert tax rows, people familiar with the matter said,… – Continue reading
The minimum alternate tax row has damaged the credibility of government promises to enforce an investor-friendly tax regime and made the Indian stock market Asia’s worst performer this year New Delhi/Mumbai: Castleton Investment Ltd, a unit of GlaxoSmithKline Plc (GSK), in 2012 asked an arm of the Indian finance ministry… – Continue reading
UK funds invested in India could face demands for tax from which they thought they were exempt. Minimum alternate tax (MAT), a tax on the book profit of a company, has been in existence in India in its current form since 2001 and is levied at 18.5 per cent. Because… – Continue reading
INTRODUCTION The Hon’ble High Court of Bombay has recently in the case of an Indian unit of Royal Dutch Shell Plc, categorically held that issuance of shares by an Indian Company to its foreign parent is not exigable to transfer pricing provisions as there is no income arising there from…. – Continue reading
Order relates to the issuance of 870 mn shares by Shell India to an overseas group entity, Shell Gas, in March 2009 Mumbai: The Bombay high court on Tuesday ruled in favour of the Indian subsidiary of Royal Dutch Shell Plc in connection with two transfer-pricing adjustments made by the… – Continue reading
