We are pleased to share herewith the Tax & Regulatory Newsletter – May 16 – May 31, 2017 highlighting major recent tax and regulatory developments in India.
Inside this issue…
- Payment made under membership agreement by the member entity not taxable on the principle of mutuality, thus no obligation to withhold tax
- Depreciation claim on government approvals and non-compete fees disallowed by Tribunal
- CBDT notifies the transactions of listed equity shares not eligible for Long Term capital gains exemption
- Mauritian Prime Minister during his Budget 2017-18 speech announces some major reforms to strengthen the tax environment of Mauritius
- Italy offers ‘webtax’ to IT companies, ensuring no tax disputes
- US’s Border Adjustment Tax
- The taxpayers are required to furnish adequate rationalities before the appellate authorities to contradict its own position taken earlier while benchmarking the transactions with its associated enterprises
- The ITAT found the AMP intensity adjustment, applied by TPO by considering the AMP expenditure of the taxpayer as a separate ‘function’, reasonable and in-line with the High Court’s view in case of Sony Ericsson
Hope you will find it interesting and informative.
Click here to read the Newsletter: http://bit.ly/2shPbPG