The Organization for Economic Co-operation and Development (“OECD”) has recently released its final report on Action 13 – Transfer Pricing Documentation and Country by Country (“CbC”) reporting, under its Action Plan on Base Erosion and Profit Shifting (“BEPS”). Action 13 recommended a three-tiered approach to TP documentation as under:
The Risk In Control Environment
Risk Management : Risk management is an integral part of the group’s business control. Risks that may pose a threat to achieving business objectives are identified, and measures are implemented to mitigate and monitor the identified risks. Responsibility for Risk Management: The line organization has the primary
Specified Agreement -TDS Aspect
Finance Act 2017 has introduced Section 45(5A) providing that income arising to individual or HUF from transfer of capital asset, being land or building or both under a specified agreement is chargeable to tax in the previous year in which certificate of completion for the whole or part of the
Understanding Reverse Charge
One of the painful concepts under the Goods & Services Tax (GST) laws is the concept of reverse charge. The concept of reverse charge was known to the trade dealing with both goods or services. However, under GST laws, the said concept has taken a new shape and has become
Story Of Bond Or Lut For SEZ Supplies
Today’s world is a world of misinformation, misinterpretation and misleading with the advent of rapid communication and social networking tools. Majority of the law now is understood either from Facebook, Whatsapp or YouTube. The irresponsible sharing of messages, without investing time to validate the messages has creating a lot of
Agriculture Sector
Introduction: Agricultural Sector is the largest contributor to the Indian economy. It covers around 16% of the overall GDP of the Country. Under the earlier regime, Centre and State Governments are lenient in taxing the agricultural sector as compared to all other sectors. However, GST is implemented on the
Vitual Currencies – Challenges To Anti Money Laundering Laws
As per Financial Action Task Force (FATF), Money laundering is the processing of the criminal proceeds to disguise their illegal origin. This process is of critical importance, as it enables the criminal to enjoy these profits without jeopardising their source. As per US Department of Treasury, Financial Crimes Enforcement
Interesting Issues In TDS
In the era of digitized information, online advertising has grown leaps and bounds over the decade. In this regard, Google has introduced revolutionary technology called ‘Google AdSense’. The said technology can be broadly classified in two types. One is ‘AdSense for Search’, where the said technology is designed to enable
Composite vs Mixed Supply – Certain Issues & GST Implications On Adsense Revenue
In order to eliminate certain legacy issues and setbacks under the erstwhile indirect taxation regime, the goods and services tax (GST) was implemented in our country with effective from 01st July, 17. The GST laws have tried to remove certain legacy issues but have introduced new issues which will take
Bribery Act VS FCPA – Compartive Study
KEY DIFFERENCES BETWEEN THE BRIBERY ACT AND THE FCPA Foreign Corrupt Practices Act (FCPA) and the U.K Bribery Act enforcement actions have increased the pressure on companies to be