India proactively boosting trade ties with Africa, Sitharaman
The Dollar Business Bureau Various steps have been taken by Government to enhance trade and commercial relations with African countries, the minister for Commerce and Industries told the Upper House. Replying to a question in the Upper House, Nirmala Sitharaman said bilateral trade between India and African countries are reviewed regularly, including through bilateral mechanisms like of Joint Trade Committee Meetings and Joint Commission Meetings. The 4th India-Africa Trade Ministers’ Meeting was organized in New Delhi on October 23, 2015. Negotiations to enter into Free Trade Agreement with the Common Market for Eastern and Southern Africa (COMESA), a Regional Economic Community in Africa, Preferential Trade Agreement with the South African Customs Union (SACU) and a Comprehensive Economic Co-operation Partnership Agreement (CECPA) with Mauritius ...
Achieving $1 trillion digital economy is not a tall claim. Why wait for 7 years? Can we do it in 3-4 yrs? Prasad
The Dollar Business Bureau The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi. Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim". "I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 ...
India resolves over 100 transfer pricing cases with US
The Dollar Business Bureau Indian tax authority has resolved more than 100 disputes related to transfer pricing with the US in the past one year after the two countries signed the mutual agreement procedure (MAP) as part of their double taxation avoidance pact. To boost investment sentiments among multinational companies, the Central Board of Direct Taxes (CBDT) had signed a framework agreement with the US revenue authorities in January last year. The agreement, under the provision of Mutual Agreement Procedure (MAP) of the Indo-US Double Taxation Avoidance Convention (DTAC), seeks to resolve about 200 pending cases related to transfer pricing between the two countries. Most of these cases pertain to overseas transactions between group companies engaged in information technology services and ...
Tax dept inks seven new transfer pricing pacts
The Dollar Business Bureau As part of efforts to reduce tax disputes related to international transactions carried out by multinationals, the Indian Tax Department has signed seven new unilateral Advance Pricing Agreements (APAs), taking the total number of such pacts to 39. Of the total 39 APAs, 38 are unilateral and one is bilateral. “In the current fiscal year, which is the third year of APA programme, 30 agreements have been signed so far. Before the end of the financial year, more such agreements are expected to be signed,” the Finance Ministry said in a statement on Friday. The seven new APAs signed on Friday cover sectors like investment advisory, software development & IT enabled services and manufacturing. The initiative of ...
