Jaitley signs OECD tax-treaty convention in Paris today
The Dollar Business Bureau India today signed the OECD multilateral convention that aims to check cross-border tax evasion by multinational companies. The Finance Minister, Arun Jaitley signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting in Paris. More than 65 countries, including India, signed the convention. More countries are expected to sign in coming days, a finance a finance ministry statement said. "The Convention will modify India's treaties to curb revenue loss through treaty abuse and base erosion and profit shifting strategies by ensuring that profits are taxed where substantive economic activities generating the profits are carried out and where value is created," the statement added. The Multilateral Convention is an outcome of the OECD/G20 Project ...
High-level committee to deal with tax issues
The Dollar Business Bureau The Union Finance Minister, Arun Jaitley, on Monday, stressed on need for a non-adversarial taxation policy, as he made clear that the Government of India will not impose ‘retrospective’ taxes. “Our taxation process has to be simpler to increase tax buoyancy and the taxation policy has to be non-adversarial. The government does not intend to tax people retrospectively,” said Jaitley, addressing the D P Kohli Memorial Lecture in New Delhi. Further promising a business-friendly environment for the global investors, the Union Finance Minister called for a globally competitive corporate tax structure. He stated this in reference to the Union Budget 2015, where the government has proposed to reduce the corporate tax from 30 % to ...
