Doing Business in India
The key highlights of this issue include Guides on individual income tax and Medical Tax Credit (please add full form) issued by the South African Revenue Service (SARS), Draft legislative issued in Canada to improve Goods and Services Tax /Harmonised sales tax (please add full form) Legislation, New Maternity Leave Regulations in Mexico, Relaxation of GST obligations for non-resident businesses in Australia, DTAA between Singapore and France, Retail sales tax bill passed in Poland.
Transfer Pricing remains the focal point of all the Multinational Enterprises (MNEs) during the first quarter of the financial year 2016 as many countries are racing to implement the Organisation for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) recommendations by way of legislation changes in their taxation laws. The OECD is also working at a swift pace to provide implementation packages and tools and assist countries in implementing the Action Plans.
With presidential assent granted to 122nd Constitutional Amendment Bill, 2014 (CAB) on 8 September 2016, the government in consonance with Article 279A of the Constitution of India, approved the creation of a GST Council and its Secretariat effective 12 September 2016. Pursuantly, the composition of the GST Council was notified on 15 September 2016 which included the Union Finance Minister as the Chairperson...