In recent years, multiple tax compliances, tax strategies, evolving business model, digital economies, etc. have garnered significant attention. Amendments to tax treaties and introduction of new tax schemes came thick and fast by individual countries to prevent their tax base erosion, and all this, led key stakeholders to take a concerted effort to overhaul global tax landscape. In India, Country by Country Reporting and Master File took centre stage, along with GST.
“It is important that companies look at control frameworks in connection to data sources, formats and content that is delivered digitally to various government agencies world over” says Nitin Narang, Partner – Tax & Transfer Pricing in an exclusive interview with ET CFO discussing the challenges and the way ahead for international groups when filing CbC reports.