This workshop provided insights into some of the key developments in the transfer pricing and international taxation area, including an update on global developments, what these developments mean for doing business in India and how taxpayers can manage tax risk and controversy in this changed environment.
The Transfer Pricing & International Tax workshop was conducted across three cities:
- 23 April 2012 from 4:30-7:00 pm at May Fair Banquets, Dr. Annie Besant Road Worli, Mumbai
- 25 April 2012 from 2:00-6:00 pm at Chancery Pavilion, Residency Road, Bengaluru
- 27 April 2012 from 2:00-6:30 pm at Hotel Lalit, Barakhamba Road, Connaught Place, Delhi
Changing face of international tax and transfer pricing in India
The world of international tax and transfer pricing in India has changed dramatically in the space of just a few years. The effect on tax policy and legislation has been startling. Tax authorities have become significantly more assertive in examining cross-border activities. Converging trends have created the riskiest environment for tax controversy the country has experienced in years. The past year has witnessed a dizzying array of tax legislation, case laws and stepped up tax enforcement efforts.
Some of the tax proposals contained in the recently presented Finance Bill, 2012 may be viewed as a watershed development in the evolution of India's international tax policy.
Key features of the workshop
The Union Budget proposals announced by the Finance Minister have generated considerable interest with a variety of changes in the transfer pricing and international tax provisions which may have a far-reaching impact. Provisions expanding the ambit of transfer pricing to specified domestic transactions, widening the definition of international transactions, clarifying the scope of intangibles, introduction of General Anti Avoidance Rules, rules on indirect transfers etc. will be explained and discussed in detail to identify potential issues and possible solutions to counter it.
The Indian transfer pricing law, though relatively young, has seen considerable controversy and litigation. Companies presently are grappling with uncertainty around their inter-company pricing and face significant challenges from the tax authorities during audits. Advance Pricing Agreements introduced in the 2012 budget will offer an opportunity to companies manage their TP related controversy. The workshop will describe how APAs are used globally and Ernst & Young's experience in dealing with this and our expectations from the India program.
Transfer Pricing is a universal issue and multilateral organizations like the OECD and the United Nations are devoting considerable amounts of time to evolve consistent rules across countries and detailed guidance to help taxpayers, tax administrations and practitioners. The workshop will provide an update on the recent discussions at the OECD and the UN and their body of work and put in context the Indian viewpoint.
The workshop will discuss the key international tax developments with special focus on global trends relating to anti-avoidance. It will give a perspective on how taxpayers are reacting to such rules and impact of the same on cross-border investment planning.
At the workshop, we had some of our eminent leaders speaking on key issues. Learn about the speakers of the workshop.