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