BEPS Current Affairs, GK & News
Country by Country Report
The Director General of Income Tax (Risk Assessment) has designated the Joint Director of Income Tax (Risk Assessment) as the Income Tax Authority as given by the Income Tax Act. About CbC Report The ‘Country by Country’ report or the CbC report is an annual return report that gives key elements of the financial statements ..
Topics: BEPS • Multinational corporation • OECD • Tax Erosion
India ratifies OECD’s convention to check Tax Evasion
India has ratified Multilateral Convention to Implement Tax Treaty Related Measures (MLI) to prevent Base Erosion and Profit Shifting (BEPS). It will pave way for amendments to double taxation avoidance agreements (DTAA) with countries signatories to convention to plug revenue leakages. The provisions enshrined in framework will come into effect from fiscal year 2020-21 for ..
Month: Current Affairs - July, 2019
Category: Economy & Banking Current Affairs - 2022
Topics: Base Erosion and Profit Shifting • BEPS • BEPS project • Covered Tax Agreements • double taxation avoidance agreements • Dtaa • G20 • India-OECD • Multilateral Convention to Implement Tax Treaty Related Measures • OECD • Tax avoidance
India and China sign protocol to Double Taxation Avoidance Agreement to prevent tax evasion
India and China have signed protocol to amend Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income by allowing exchange of information. Under Section 90 of Income-tax Act, 1961, India can enter into agreement with foreign country or specified territory for ..
Month: Current Affairs - November, 2018
Topics: Base Erosion and Profit Shifting • BEPS • Corporate tax avoidance • Double taxation • Double Taxation Avoidance • Dtaa • Economy • Foreign direct investment • India China • International taxation • Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting • National • Tax • Tax avoidance • Tax Evasion • Taxation in the United States • World economy
India, Hong Kong sign double tax agreement
India and Hong Kong have signed agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Hong Kong is former British colony and is special administrative region of China which enjoys a high degree of autonomy under which it has an independent taxation system. It is ..
Month: Current Affairs - March, 2018
Topics: BEPS • Busienss • Double Tax Agreement • Dtaa • Economy • India China • India-Hong Kong • National • Tax Evasion • Taxation
Union Cabinet approves Protocol amending DTAA between India, China
The Union Cabinet has approved signing and ratification of protocol amending Double Taxation Avoidance Agreement (DTAA) between India and China. The DTAA aims for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and update the provisions on exchange of information of the DTAA to the latest international standards. Key ..
Month: Current Affairs - February, 2018
Topics: BEPS • BEPS project • Cabinet Decisions • Dtaa • India China • National • Taxation
Government notifies third Protocol amending India-Singapore DTAA
The Union Finance Ministry has notified hird Protocol amending India-Singapore Double Taxation Avoidance Agreement (DTAA). The agreement came into force in February 2017and was signed in December 2016. The Third Protocol amends the DTAA between both countries to provide for source-based taxation of capital gains arising on sale of shares in a company. Key Facts ..
Month: Current Affairs - March, 2017
Topics: BEPS • Business • Dtaa • Economy • India-Singapore • National • Taxation • Transfer Pricing