Corporate UAE Introduces Corporate Tax from June 2023 Objectives to Introduce CIT in UAE Cementing the UAE’s position is a world leading hub for business and investment Meeting international standards for tax transparency and preventing harmful tax… February 11, 2022 By admin 0
Amendments OECD Update A global deal to ensure big companies pay a minimum tax rate of 15% and make it harder for them to avoid taxation has been agreed by 136 countries,… December 10, 2021 By admin 0
Articles United Arab Emirates publishes MAP guidance On 1 July, the United Arab Emirates officially issued the mutual agreement procedure (MAP) guidance through the Department of International Financial Relation of the Ministry of Finance. The purpose… July 28, 2021 By admin 0
Amendments SEP threshold defined SEP was introduced in the Income-Tax Act, 1961 (‘ITA’) from April 1, 2018 It expands the scope of income of a non-resident which accrues or arises in India that… May 7, 2021 By admin 0
Amendments Update On Taxation Of Digital Economy The pillar one and pillar two blueprints propose significant modifications to the international tax system, granting greater taxing rights to countries where the customers of a multinational group reside… October 5, 2020 By admin 0
Articles Coronavirus and the National Accounting Advisory As of March 2020, the world is dealing with the presence of the global spreading of COVID-19 or popularly known as the Coronavirus. At the beginning of March 2020,… September 18, 2020 By admin 1
Important case laws SC turns down Income Tax Department’s appeal in Samsung Heavy Engineering’s case Issue The ITAT held that the Mumbai office of the Assessee was indeed carrying on business activity and since extent of activity could not be determined it set aside… August 5, 2020 By admin 16
Important case laws Denmark Supreme Court Ruling -Transfer Pricing-Royalty Payment The dispute arose from a joint Scandinavian transfer pricing tax audit involving the Norwegian, Swedish, and Danish tax authorities. Royalty payments of USD 12.6 million made in 2006-2009 by… July 6, 2020 By admin 0
Articles US To investigate DST in 9 Countries The Office of the US Trade Representative (USTR) today announced that it has initiated an investigation into digital services taxes proposed or adopted in Austria, Brazil, the Czech Republic,… June 6, 2020 By admin 0
Amendments India widens Equalisation Levy base Effective 1st April 2020 India Widens its base of Equalisation Levy (2% on e commerce supply) In 2016, India had first introduced an equalisation levy on payments received by non-residents (subject to certain… April 24, 2020 By admin 1