| Representation to DPIIT on ‘Draft National e-Commerce Policy |
March 2019
Department for Promotion of Industry and Internal Trade ('DPIIT') (erstwhile known as Department of Industrial Policy and Promotion; and a part of Ministry of Commerce and Industry, Government of India) recently formulated 'Draft National e-Commerce Policy' and had invited comments and suggestions from stakeholders on the Policy. The Policy dealt with various aspects of e-Commerce sector in India including regulation of cross-border data flow, creation of physical infrastructure for digital economy, measures relating to e-commerce marketplaces, regulatory issues for e-commerce sector, etc.
Responding to the public invitation to provide suggestions on the Policy, our firm has offered recommendations for rationalization of FDI norms for e-commerce sector based on prevailing economic realities. These recommendations have been made for inclusion in the policy framework of 'National e-Commerce Policy'.
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| Representation to CBDT on ‘Proposal for Amendment of Rules for Profit Attribution to Permanent Establishment’ |
May 2019
Recognizing the significance of issues relating to attribution of profits to a permanent establishment as well as the need to bring greater clarity and predictability in the applicable tax regime, a Committee was formed to examine the existing scheme of profit attribution to PE under Article 7 of DTAAs and recommend changes in Rule 10 of the Income – tax Rules. The Committee has submitted its report and it has been decided to seek stakeholder’s comments on the Report of the committee.
Responding to the public invitation to provide suggestions on the Report, our firm has offered Comments & Suggestions to ‘Proposal for Amendment of Rules for Profit Attribution to Permanent Establishment’.
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| Representation to the CBDT on draft rules in relation to Master File and CbCR |
Central Board of Direct Taxes (Ministry of Finance, Government of India), (October 2017)
As part of India's commitment to implement Action Plan 13 under OECD/G20 BEPS Project, the legislation for Country-by-Country Report and Master File was introduced vide Finance Act, 2016. The CBDT then issued draft rules for the insertion of Rules 10DA and Rule 10DB along with corresponding forms inviting the public to send comments to such draft rules. In this regard our firm made its representation to the CBDT suggesting further improvement of the proposed rules which were accepted by the CBDT after which the final rules were notified on 31st October 2017. |
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| Representation to the Central Board of Direct taxes (Ministry of Finance, Government of India) concerning issues arising out of Protocol amending India - Mauritius DTAA |
July 2016
The Protocol amending India - Mauritius DTAA was recently signed by both countries on 10th May 2016. Thereafter, the Central Board of Direct Taxes constituted a Working Group to examine the consequential issues arising out of the amendments to India - Mauritius DTAA and invited comments and suggestions in this regard.
Responding to the public invitation, our firm has sent suggestions to the CBDT for providing clarity on an important consequential effect arising out of the Protocol to India - Mauritius DTAA. |
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| Representation to the Central Board of Direct taxes (Ministry of Finance, Government of India) relating to Draft Rules for Grant of Foreign Tax Credit |
May 2016
The Finance Act 2015 had amended Section 295(2) to enable CBDT to issue rules to provide the procedure for granting relied in India for the foreign taxes paid abroad. Pursuant to the same, the Central Board of Direct Taxes (Ministry of Finance, Government of India) vide F. No. 142/24/2015-TPL dated 18th April 2016 recently released 'Draft Rules for granting relief or deduction of Income-Tax under Section 90 / 90A / 91 of the Income Tax Act' in this regard.
Responding to the public invitation to send comments to such draft rules, our firm has sent suggestions to the CBDT on further improvement of the proposed rules. |
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| Representation to the Central Board of Direct taxes (Ministry of Finance, Government of India) concerning the proposed POEM Guidelines |
January 2016
The Finance Act 2015 had amended Section 6(3) of the Income Tax Act, 1961 to bring in the concept of Place of Effective Management ('POEM') for determination of residence of companies in India w.e.f. AY 2016-17. The Explanatory Memorandum to the Finance Bill, 2015 had stated that guiding principles to be followed for determination of POEM shall be issued for the benefit of the taxpayer as well as the tax administration. Pursuant to the same, the Central Board of Direct Taxes (Ministry of Finance, Government of India) vide Circular Number F. No. 142/11/2015-TPL dated 23rd December 2015 recently released 'Draft Guiding Principles for Determination of Place of Effective Management of a Company' in this regard.
Responding to the public invitation to send comments to such draft guidelines, our firm has sent suggestions to the CBDT on further improvement of the proposed rules. |
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| Representation to the Central Board of Direct taxes (Ministry of Finance, Government of India) concerning the proposed rules under Transfer Pricing |
June 2015
The Finance Minister in his Budget speech, while introducing the Finance (No. 2) Bill 2014, had made an announcement for the adoption of the 'Range Concept' as well as permitting the use of 'Multiple Year Data' for computation of the Arm’s Length Price (ALP) of an International Transaction or Specified Domestic Transaction undertaken on or after 01.04.2014. Further, the Central Board of Direct Taxes (Ministry of Finance, Government of India) vide Circular Number F. No. 134/11/2015-TPL dated 21st May 2015 released a draft scheme of the proposed rules in this regard. Responding to the public invitation to send comments to such draft scheme, our firm sent suggestions to the CBDT on further improvement of the proposed rules. |
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| Comments to Public Discussion Draft under BEPS Action Plan 10 |
January 2015
As part of the ongoing project on Base Erosion and Profit Shifting, Working Party No. 6 on the Taxation of Multinational Enterprises as constituted by OECD prepared a Discussion Draft under BEPS Action 10 detailing a simplified transfer pricing approach for low value-adding intra-group services which would eventually lead to revisions in Chapter VII of the OECD Transfer Pricing Guidelines. Responding to public invitation to send comments to such Public Discussion Draft, our firm sent suggestions to OECD on further improvement of the draft. |
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