The SKP Advantage
The Union Budget 2015-16 has expectations soaring with tax reforms such as GST taking centre stage of most debates and discussions. The industry has been optimistic that this Budget would feature business-friendly policies that will reform the Indian business scenario. Finance Minister, Arun Jaitley has been entrusted with the colossal task of presenting a Budget that meets the sky-high expectations of the industry. This publication highlights SKP’s expectations from the Budget.
The enactment of the GST reform is not just another technical revision but is a seminal tax reform, catering to greater transparency, governance, value addition and cost-effectiveness. The new regime will free India of its complex indirect taxation structure and open up an array of opportunities and challenges for businesses in India. With its probable implementation from 1 April 2016, the challenge at hand for the business community is to adapt to the transitional shift in the tax reforms, by understanding the very nuances of the proposed GST Bill.
The transfer pricing world is undoubtedly moving into an exciting yet challenging sphere. The global platforms are heading towards a flat structure and during the last quarter, we have seen many new developments, either introducing comprehensive transfer pricing regimes or expanding the reach of transfer pricing regulations to various intra-group arrangements.