Monetary threshold for TRC likely to be introduced in Budget
The Dollar Business Bureau The Union Government is leaving no stone unturned to make the Budget 2015 an absolute delight for the industry. Close to the expectations on the reversal of the inverted duty structure and implementation of the Goods and Services Tax (GST), the Finance Ministry is likely to fix a monetary threshold for furnishing of the Tax Residency Certificate (TRC) for ease of doing business in India. The TRC is usually furnished by small time overseas entities for availing tax benefits under bilateral treaties. Though all companies that pump in foreign direct investment (FDI) furnish TRC, according to tax authorities, the larger companies do not face much problem because they have adequate administrative machinery to deal with the ...
