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: 

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: 

Category: 

Topics: 

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: 

Topics: 

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: 

Topics: 

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: 

Topics: