Corporate and International Tax

Indian tax environment is constantly evolving along with globalization and economic shifts. Businesses are faced with a tax regime with greater complexities and challenges considering some of the recent developments in Indian taxation regime such as introduction of the General Anti-Avoidance Rules (GAAR), tax on gains arising out of indirect transfers of Indian assets, re-negotiation of tax reaties, introduction of Place of Effective Management (PoEM) concept, to determine the tax residency etc.

The developments at International level has its own major implications on the Indian tax system such as proposals under the Base Erosion and Profit Shifting (BEPS) project, signing of Multilateral Convention (MLI) to Implement BEPS measures.

Additionally, some challenges on the tax side have been thrown by the new measures adopted on the accounting / regulatory side such as introduction of new Indian Accounting Standards (Ind-AS) which are a set of standards converged with International Financial Reporting Standards (IFRS) and largely based on Fair value concept.

Further, the Indian government has also recently reduced corporate tax rates significantly to make the Indian businesses more competitive and to promote investments, thereby spurring overall economic growth.

The government also has a strong focus on the tax compliances as well including the foreign companies undertaking business in India. As per the Annual Central Action Plan, the government is using various e-governance and data analytics tools to minimise the tax evasion to its best possible and enforcing ease of compliance to widen the tax base.

Business-Setting Up
(In and Outbound)

We offer a full suite of services to multinationals, domestic corporations and individuals in designing, implementing and defending their overall tax strategy in and outside India in the following areas:
  • Entry strategy from a tax and regulatory perspective
  • Choice of an appropriate form of entity to set up Indian business activities to keep a balance between operational efficiencies of the business and the tax efficiencies
  • Assistance in entity set up, registrations with the tax authorities, etc. both to India inbound and outbound MNC’s as a one stop shop
  • Conceptualising income tax positions and implementing the same

Tax Advisory

At Asire, we have experience of advising clients in domestic, international and cross border transactions basis our strong business knowledge. We support our clients in tax and regulatory planning, overall tax strategy including the following areas:
  • Help achieve the technically accurate and practical tax positions
  • Availing all possible corporate tax incentives as per the business activities
  • Options for profit and dividend repatriation
  • Impact analysis of tax developments such as GAAR, PoEM, BEPS, Ind-AS, new tax rates for specified businesses etc.
  • Advising on withholding tax obligations on payments considering the strong adverse penal consequences

We help clients with effective tax strategies and hand-hold them during execution of the same. Our experienced professionals understand the tax environment in India and provide focused advice on every client situation – whether an investment, divestment, M&A, planning supply chain, funding, tax cost optimization, disclosures or any other business or commercial transaction.

Tax Compliance

Considering the strong monitoring of tax authorities on the compliances to widen the tax base and check tax evasion, Compliance is no longer limited to an annual exercise and become a routine day to day function.

Team Asire can help with all aspects of the compliances such as:

  • Assisting in preparation and filing of various tax returns such as Corporate tax return, Withholding tax returns etc.
  • Undertaking other compliances viz. tax registrations, NIL / lower withholding tax certificates from tax authorities, certification.
  • Tax diagnostic reviews including withholding tax health checks etc.
  • Assisting in upgradation of SAP / ERP systems to meet the tax compliance requirements

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