United States: The OECD Unified Approach Marches (Stumbles?) Forward
The OECD Secretariat proposed the Unified Approach in October 2019 to address the tax challenges arising from the digitalization of the economy. ... - Continue reading
Category: Service Tax
India-Japan amended tax treaty comes into force
The amended bilateral tax treaty between India and Japan, which provides for strengthened exchange of information to help reduce tax evasion, has come into force from October 29. The agreement to amend the 27-year old Double Taxation Avoidance Agreement (DTAA) was signed when Japanese Prime Minister Shinzo Abe visited India… – Continue reading
Nagaland Assembly ratifies GST
Introducing the bill, Minister for Parliamentary Affairs Kiyanilie Peseyie said the revenue of the state would go up as tax evasion would be checked due to transparency and broadening of tax base. The Nagaland Legislative Assembly has ratified the Goods and Service Tax (GST) Constitution Amendment Bill. The bill was… – Continue reading
Royals took advantage of Spain’s tax evasion amnesty
Four relatives of the Spanish king benefitted from an amnesty on tax evasion to ‘regularize’ previously undeclared assets worth over €4million, it has emerged. An elderly relative of the King, her son and two of her grandchildren, paid less than two percent to Spain’s treasury in order to make their… – Continue reading
Tax planning in the context of Panama Papers
Panama Papers’ disclosures now and earlier dealings of Vodafone through Cayman Islands are stories of famous tax havens, which evoke discussions of how tax evasion takes place. These are all direct taxes, mainly corporate tax, and not indirect tax. These are cases of tax planning that come to the fore… – Continue reading
In Absence of GST, Service Tax Lawsuits on Rise: Experts
Service tax litigations have risen substantially in recent years and that may be because of the absence of a pan-India Goods and Services Tax (GST) regime that can potentially remove several ambiguities around indirect taxation, experts maintain. A total of 75,314 litigations were pending with the Department of Revenue, the… – Continue reading
Rationalise taxes on media, entertainment sector: Experts
Budget 2016 should rationalise entertainment tax, exempt newsprint from VAT and end double taxation on temporary transfer of movie rights to television channels, experts said. “Currently, entertainment industry players such as DTH and cable service operators are reeling under the heavy burden of multiple taxation and levies such as licence… – Continue reading
Industry Expects Relief From Double Taxation For Ease Of Doing Business
While the central government is pursuing its objective to provide a certain and stable tax regime, it is critical that instances of dual levy of VAT and service tax on the same transaction are addressed urgently The levy of service tax as well as Value Added Tax (VAT) on the… – Continue reading
