Taxmann's Permanent Establishment in International Taxation
Author: Amar Mehta
Publisher:
Published: 2012
Total Pages: 800
ISBN-13: 9789350710456
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Taxmann's Permanent Establishment Emerging Trends – Complete Guide for Resolution of Complexities Involved in the Concept of Permanent Establishment | October 2020 Edition
Author: The Chamber of Tax Consultants
Publisher: Taxmann Publications Private Limited
Published: 2020-11-17
Total Pages: 35
ISBN-13: 9390128854
DOWNLOAD EBOOKThe study of Permanent Establishment has emerged as intriguing and complex subject. This book serves as a complete guide for resolution of complexities involved in the concept of permanent establishment. The structure of the book is as follows: • This book opens up with ‘adaptation of Indian domestic tax laws’ to the ‘global trend’ • The advent of ‘Significant Economic Presence’ and its ramification on the changing concept on business connection has been deliberated in this book • Evolution of permanent establishment (‘PE’) in the e-world • Insights into Multilateral Conventions (‘MLI’) & OECDs position on the changing garb of PE • The book closes with the impact of changing philosophy of PE in the international tax space & in the domestic tax legislature. The contents of the book are as follows: • Introduction • Territorial nexus becomes aerial • Adaptation of Indian Domestic Laws • PE in digital economy • PE under Data Localisation Regime • Server as PE • Modification in Agency PE definition • Modification in Independent agent definition • Preparatory or auxiliary activities • Construction PE – Journey, Abuse and Remedy • Conclusion • Annexures 𝚘 Relevant Provisions of the Act 𝚘 OECD Model Convention (Relevant extract) 𝚘 PE Articles under various treaties 𝚘 Relevant Articles of Multilateral Conventions 𝚘 MLI Impact on PE Article of treaties extracted in Part III
Permanent Establishment
Author: Arvid Aage Skaar
Publisher: Kluwer Law International B.V.
Published: 2020-06-19
Total Pages: 957
ISBN-13: 9403520647
DOWNLOAD EBOOKA new edition of the preeminent work on the permanent establishment (PE) is a major event in tax law scholarship. Taking into account changes in judicial and administrative practice as well as the Organisation for Economic Co-operation and Development’s (OECD’s) and the United Nation’s (UN’s) work in the three decades since the first edition, the present study brings the analysis up to date with the current internationally accepted interpretation of PE. The analysis is based on more than 720 cases from more than 20 countries, in addition to the OECD and UN model treaties and more than 630 books, articles, and official documents. The increased significance of the digital economy has rendered the traditional concept of PE inadequate for the allocation of taxing jurisdiction over the modern, mobile or digital international business. The author’s in-depth analysis explains the legal elements of the PE principle with attention to their continuing benefit and their shortcomings: criteria defining a PE- place of business, location, right of use, duration, business connection, business activity, ordinary course of business; evidence of a right of use to a place of business; business activities included in the PE concept of the tax treaties; identification of projects offshore and onshore; UN model treaty deviations from the OECD agency clause; distinction between jurisdictions with significant natural resources and countries possessing the capital, technology and know-how necessary to explore and exploit these resources; and how policies in each country may erode the PE concept. The book provides many synopses of court decisions and administrative rulings upon which the analysis is based. In addition to cases previously published in law reports and other publications, a number of unpublished decisions are included. A key word index makes it easy to find what is needed in any particular matter. The PE principle, in one version or another, is used in several thousand tax treaties in force today. This updated comprehensive study reveals the obligations imposed through the use of PE in tax treaties and will continue to be of immeasurable value to tax practitioners and scholars worldwide. In addition, the discussion of whether the notion of PE is an appropriate criterion for taxing jurisdiction in international fiscal law today provides authoritative and insightful food for thought.
Taxmann's International Taxation Ready Reckoner – India's first 'ready reckoner' designed to simplify cross-border tax complexities with practical guidance, case studies, etc.
Author: CA Daksha Baxi
Publisher: Taxmann Publications Private Limited
Published: 2024-09-23
Total Pages: 38
ISBN-13: 9364558014
DOWNLOAD EBOOKThis book is India's first 'ready reckoner' specifically focused on the complexities of international taxation and cross-border transactions. It provides comprehensive coverage of essential topics, including the basic provisions of India's taxation scheme, the concept of residence, and the crucial role of Double Taxation Avoidance Agreements (DTAA). The book also discusses the interaction between DTAAs and the Income-tax Act, guiding how to read a DTAA, determine eligibility, and resolve conflicts between a DTAA and domestic tax laws. This handbook is helpful for tax professionals, legal advisors, tax practitioners, tax officers and businesses dealing with cross-border transactions, such as payments to non-residents, transactions involving non-residents, digital transactions, and the withholding tax obligations of residents. The second edition has been updated with the latest amendments from the Finance (No. 2) Act, 2024, and features expanded discussions, additional material, more case studies, and judicial precedents, providing in-depth analysis and practical insights into international taxation. The Present Publication is the 2nd Edition and has been amended by the Finance (No. 2) Act, 2024. This book has been authored by CA Daksha Baxi & Adv. Surajkumar Shetty, with the following noteworthy features: • [Comprehensive Coverage] Covering a broad spectrum of topics, the book details the basic provisions, residential status, the role and application of Double Taxation Avoidance Agreements (DTAA), and their interaction with the Income-tax Act. It provides a step-by-step guide on how to read a DTAA, determine eligibility, and resolve conflicts between DTAA and the Income-tax Act • [In-depth DTAA Analysis] It examines multiple DTAAs to demonstrate how tax implications can vary across treaties or remain consistent, providing clear explanations for these outcomes. This detailed analysis helps readers understand the nuanced application of DTAAs in various cross-border scenarios • [Detailed Chapter Organisation] The chapters are organised to cover different types of income and transactions, such as rental income, business income, dividends, interest, royalties, technical services, capital gains, employment, and more. This structure brings together all relevant provisions of the Income-tax Act, including appropriate cross-references, making navigation straightforward for users • [Taxability Evaluation] The book provides comprehensive guidance on evaluating the taxability of cross-border transactions using the Income-tax Act, DTAA and references to rules, forms, circulars, and landmark judicial precedents. This holistic approach equips readers to assess tax implications accurately and effectively • [Practical Guidance for Advisors] Throughout the book, notes provide valuable insights into how advisors should approach transactions, the investigations required, and the application of the principles of the Income-tax Act and DTAA. This practical advice helps professionals offer sound, informed guidance on cross-border tax matters • [Simplified Explanations] Complex concepts such as Place of Effective Management (PoEM), Permanent Establishment (PE), and business connections are explained in simple language, supplemented with practical examples and judicial precedents. Relevant statutory texts are reproduced verbatim for easy reference, aiding readers in understanding and applying the law • [Special Focus on Investment Structures] The book discusses the taxation of Foreign Portfolio Investors and various investment funds, including Alternative Investment Funds (AIFs), Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), and Securitisation Trusts. It specifically addresses scenarios involving non-resident investors in these structures • [Litigation and Compliance] It provides an overview of provisions related to litigation proceedings under the Income-tax Act, Mutual Agreement Procedures (MAP) under DTAA, the Authority for Advance Rulings (AAR), equalisation levy, transfer pricing provisions, general anti-avoidance rules (GAAR), and special provisions for International Financial Services Centres (IFSC). This comprehensive coverage ensures professionals are well-prepared for compliance and dispute resolution • [Illustrative Case Studies] To enhance practical understanding, the book includes numerous illustrations, practical examples, and comprehensive case studies. These are designed to cover various aspects of cross-border transactions, providing readers with insights into the subtleties and practical challenges involved The structure and layout of the book is as follows: • [25 Well-structured Chapters] dedicated to a specific area of international taxation, including detailed discussions on relevant provisions and practical guidance • [Cross-references] to other chapters where necessary, ensuring clarity and ease of navigation and enhancing the reader's ability to understand complex interrelationships within tax laws • [Appendix] includes formats for relevant forms, updates on withholding tax rates, summaries of abbreviations, and comprehensive lists of withholding tax rates under India's existing DTAAs, serving as a practical toolkit for professionals The contents of the book are as follows: • Tax System for Non-Residents in India – An Overview • Tax Treaties • Setting Up a Business in India • Classification of Income • Determining Eligibility to Claim Benefits of DTAA • Taxation of Rental Income • Taxation of Business Income • Taxation of Dividend Income • Taxation of Interest Income • Taxation of Royalty Income • Taxation of Income from Fees for Technical Services • Taxation of Capital Gains • Taxation of Employment Income • Taxation of Non-Resident Indian • Taxation of Foreign Portfolio Investors • Taxation of AIFs, REITs, InvITs, Securitisation Trust • Transactions Attracting Transfer Pricing Regulations • Business Reorganisations • Discontinuance of Business and Dissolution of Indian Company • Foreign Tax Credit • Making Payments to NRs & Obtaining Lower Withholding Certificate • Assessments, Appeals and Dispute Resolution • General Anti-Avoidance Rules • Miscellaneous • Case Study to Determine Taxability of NR, under the IT Act & DTAA
Taxmann’s International Taxation – A Compendium | 5,200+ Pages | 200+ Experts | 137 Articles | 4 Volumes | 4th Edition
Author: The Chamber of Tax Consultants
Publisher: Taxmann Publications Private Limited
Published: 2021-02-10
Total Pages: 39
ISBN-13: 9390628903
DOWNLOAD EBOOKCTC’s International Tax Compendium is a collection of incisive & in-depth articles on international taxation, which serves as a reference manual and indeed, a practice guide for its readers. The current edition of the compendium is more current, more incisive, covers a broader range of topics, and like its previous three editions, promises to be another very useful tool for the following: • Tax Professionals both in India and Overseas • Judiciary and Tax administrators ought to find this a useful reference point both for technical analysis as well as for understanding the right perspective in which to view some of the international tax developments of the recent past. This compendium will equip its readers with better knowledge and practical examples to be able to serve their clients better. The current edition of the compendium is a comprehensive four volumes set, containing approximately 5,200+ pages covering all major topics on the subject of International Taxation, such as: • Amendments made in the Income-tax Act, 1961 • Changes introduced in the OECD Model Tax Convention, 2017 • Updates introduced in the OECD Model Commentary in 2017 • Updates introduced in UN Model Tax Convention in 2017 • Global Focus on combating Tax Evasion • Initiation of various Anti Avoidance Measure and tightening of Anti Money Laundering Laws • Implementation of Multilateral Instruments pursuant to the publication of the BEPS Action Plan Reports in October, 2015. The Present Publications is the 4th Edition, covering 137 Articles authored by 200+ Experts. This Compendium is a balanced collection of articles by recognised experts in the field, by young as well as eminent professionals and also by experienced and knowledgeable Commissioners of Income-tax & Senior Ex- Revenue Officials. This book is divided into four volumes, and their contents (volume-wise) are listed below: • Volume 1 & 2 contains articles explaining the following: 𝚘 Theme/basic concepts of Double Tax Avoidance Agreements 𝚘 Various Articles of Model Tax Convention 𝚘 Specific provisions of the Domestic Law dealing with the Taxation of Non-Residents and Cross-Border Transactions • Volume 3 contains industry specific articles such as: 𝚘 Taxation of Telecom Sector 𝚘 Broadcasting & Telecasting industries 𝚘 Electronic Commerce 𝚘 Foreign Banks, Offshore Funds, FII’s etc. • Volume 4 contains articles on the following: 𝚘 FEMA and other Domestic Laws such as Prevention of Money Laundering Act, Foreign Contribution Regulation Act, Black Money Act, Benami Law 𝚘 Various Anti-Avoidance Measures & other specialised articles
Exploring the Nexus Doctrine In International Tax Law
Author: Ajit Kumar Singh
Publisher: Kluwer Law International B.V.
Published: 2021-05-14
Total Pages: 234
ISBN-13: 9403533641
DOWNLOAD EBOOKIn an age when cross-border business transactions are increasingly effected without the transference of physical products, revenue concerns of states have led to a multitude of tax disputes based on the concept of ‘nexus’. This important and timely book is the most authoritative to date to discuss one of the major tax topics of our time – the question of how taxing rights on income generated from cross-border activities in the digital age should be allocated among jurisdictions. Demonstrating in prodigious depth that it is the economic nexus of the tax entity or activity with the state, and not the physical nexus, which meets the jurisdictional requirement, the author – a leading authority on this area who is a Senior Commissioner of Income Tax and a Member of the Dispute Resolution Panel of the Government of India – addresses such dimensions of the subject as the following: whether a strict territorial nexus as a normative principle is ingrained in source rule jurisprudence; detailed scrutiny of such classical doctrines as benefit theory, neutrality theory, and internation equity; comparative critique of the Organisation for Economic Co-operation and Development (OECD) and United Nation (UN) model tax treaties; whether international law and customary principles mandate a strict territorial link with the source state for the assumption of tax jurisdiction; whether the economic nexus-based tax jurisdiction and absence of a physical presence breach the constitutional doctrine of extraterritoriality or due process; and whether retrospective tax legislation breaches the principle of constitutional fairness. The book offers a politically informed analysis of the nexus principle and balances the dynamics of physical presence and economic nexus standards, based on an in-depth survey of the historical evolution of judicial pronouncements and international practices in this regard. Dr Singh’s book exposes an urgently needed missing link in the international source rule literature and takes a giant step towards solving the thorny question of appropriate tax apportionment. It sheds brilliant light on the policies states may adopt when signing new tax treaties, so that unintended results may be foreseen and avoided. Tax practitioners, taxation authorities, and academic researchers in the field of international tax law and policy will greatly appreciate the book’s forthright enhancement of the ability to defend challenges based on the nexus doctrine.
Taxmann's International Taxation Ready Reckoner – India's first 'ready reckoner' for persons dealing with cross-border transactions with illustrations/examples, practical & comprehensive case studies
Author: Daksha Baxi
Publisher: Taxmann Publications Private Limited
Published: 2023-04-13
Total Pages: 44
ISBN-13: 9357782400
DOWNLOAD EBOOKThis book is India's first 'ready reckoner' with a specific focus on international taxation & taxation of cross-border transactions. It covers the entire spectrum of topics, which are as follows: • Basic provisions of the scheme of taxation in India • Residence in India • Role of Double Taxation Avoidance Agreements (DTAA) • Interaction of DTAA with the Income-tax Act • How to read a DTAA? • How to determine eligibility for DTAA? • How to resolve the conflict between a DTAA & Income-tax Act? It is an essential handbook for anyone who is dealing with cross-border transactions, including: • Payments made to non-residents • Transactions with non-residents • Digital transactions • Withholding tax obligation obligations of residents The Present Publication is the 1st Edition and has been amended by the Finance Act 2023. This book has been authored by CA Daksha Baxi & Adv. Surajkumar Shetty with the following noteworthy features: • [Exhaustive Coverage] of the tax implications on cross-border transactions • [Evaluating the Taxability] using the following: o Income-tax Act o Double Taxation Avoidance Agreement o Reference to Rules, Forms, Circulars, etc. o Reference to Case Laws • [Authors' Notes] are given for the following: o How should an advisor approach the transaction? o What investigations should be made to apply the law and principles of the Income-tax Act & Double Taxation Avoidance Agreement? • [Conceptual Analysis in Simplified Language with Examples & Case Laws] for the following 'noted' topics, among others: o Place of Effective Management o Permanent Establishment o Business Connection o Foreign Portfolio Investors o Investment Funds & their Investors § Alternative Investment Funds (AIFs) § Infrastructure Investment Funds (InvITs) § Real Estate Investment Trusts (REITs) § Securitisation Trust • [Covering Provisions relating to Litigation Proceedings] under the following: o Income-tax Act o Mutual Agreement Procedure (MAP) under the Double Taxation Avoidance Agreement o Authority for Advance Ruling (AAR) Process o Equalisation Levy o Transfer Pricing Provisions o General Anti Avoidance Rules (GAAR) o Special Provisions for International Financial Services Centres (IFSC) • [Illustrations/Examples, Practical & Comprehensive Case Studies] are given to provide insights into the finer nuances of cross-border transactions The detailed contents of the book are as follows: • Tax System for Non-Residents in India – An Overview • Tax Treaties • Setting Up a Business in India • Classification of Income • Determining Eligibility to Claim Benefits of DTAA • Taxation of Rental Income • Taxation of Business Income • Taxation of Dividend Income • Taxation of Interest Income • Taxation of Royalty Income • Taxation of Income from Fees for Technical Services • Taxation of Capital Gains • Taxation of Employment Income • Taxation of Non-Resident Indian • Taxation of Foreign Portfolio Investors • Taxation of AIFs, REITs, InvITs, Securitisation Trust • Transactions Attracting Transfer Pricing Regulations • Business Reorganisations • Discontinuance of Business and Dissolution of Indian Company • Foreign Tax Credit • Making Payments to NRs & Obtaining Lower Withholding Certificate • Assessments, Appeals and Dispute Resolution • General Anti-Avoidance Rules • Miscellaneous • Case Study to Determine Taxability of NR, under the IT Act & DTAA
The Concept of Permanent Establishment in the Insurance Business
Author: Daniele Frescurato
Publisher: Kluwer Law International B.V.
Published: 2021-04-22
Total Pages: 430
ISBN-13: 940353284X
DOWNLOAD EBOOKsiness models adopted by insurance companies; and comparative analysis of double tax treaty policies adopted in a number of countries with respect to the permanent establishment provision in the insurance business, highlighting Switzerland for comparative purposes. In a concluding chapter, the author proposes changes to the definition of the dependent agent permanent establishment currently enshrined in the model treaties and their respective commentaries, aligning such a definition to the regulatory framework in which insurance companies conduct their business in countries other than that of incorporation. As a highly significant and timely contribution to the study of the interplay between insurance regulation and tax implications, this very original work will prove of especial value to practitioners in international tax and insurance law, as well as professionals in the financial services sector and tax academics.
Taxmann's Direct Tax Laws & International Taxation | 2 Vols (Paper 4 | DT | A.Y. 2024-25) – Perfect balance b/w detailed studies & summarised approach | CA Final | New Syllabus | Nov. 2024 Exams
Author: CA Ravi Chhawchharia
Publisher: Taxmann Publications Private Limited
Published: 2024-06-13
Total Pages: 53
ISBN-13: 9357788859
DOWNLOAD EBOOKThis book offers a comprehensive and practical application of Direct Tax Laws and International Tax, honing the reader's analytical skills. It perfectly balances an in-depth study and a summarized approach, presented in an explanatory and analytical manner. It is helpful for students preparing for CA-Final, CS-Professional, CMA-Final, M.Com/MBA/LL.B./LL.M, and other professional exams. The Present Publication is the 7th Edition for the CA Final | New Syllabus | November 2024 Exam | A.Y. 2024-25). This book is authored by CA Ravi Chhawchharia, with the following noteworthy features: • [Complete Coverage] of the latest syllabus as prescribed by the ICAI • [Detailed Index] A well-organized index at the beginning helps students navigate through sections and other details • [Provisions] Comprehensive yet concise explanations of provisions, maintaining technical accuracy • [Judicial Decisions] Landmark/Prescribed by ICAI: Highlighted in bold and underlined, with case names provided before the facts and decisions • [Other Judicial Decisions] Only the ratio of the case is included, without requiring students to remember case names • [Practical Questions with Updated Solutions | Section-Based Questions] Included below the relevant provisions • [Multi-Section Questions] Placed at the end of each chapter in the 'Practical Questions' segment • [Amended & Updated] Incorporates the latest applicable provisions and amendments for A.Y. 2024-25, relevant for the November 2024 exams • [Judicial Decisions, Circulars & Notifications] Thoroughly covered • [Past Exam Solved Questions] Includes solved questions from past exams, including the CA-Final May 2024 paper The contents of this book are as follows: • Part I – Direct Tax Laws o Basic Concepts of Income Tax Laws and Tax Rates o Residential Status [Section 6] o Incomes which do not form part of Total Income [Section 10(1) to Section 10(50)] o Profits and Gains of Business or Profession [Section 28 to Section 44DB] o Capital Gains [Section 45 to Section 55A] o Income from Other Sources [Section 56 to Section 59] o Income Computation and Disclosure Standards o Tax on Conversion of Unaccounted Money [Section 56(2)(x), (viib); Section 94; Section 68 to 69D & Section 115BBE] o Income of other Persons, included in Assessee's Total Income (Clubbing of Income) [Section 60 to Section 65] o Set-off of Losses or Carry Forward and Set-off of Losses [Section 70 to Section 80] o Deduction from Gross Total Income [Chapter VI-A – Section 80C to Section 80U] o Deduction for Co-operative Societies [Sec.80P] o Deduction for Special Economic Zones [Section 10AA] o Taxation of Bonds [Circular No., 2/2002, dt. 15.02.2002] o Agriculture Income & its Tax Treatment [Section 2(1A) and Section 10(1)] o Taxation of Political Parties & Electoral Trust [Section13A and Section 13B] o Expenditure on Exempt Income [Section 14A and Rule 8D] o Taxation of Charitable/Religious Trusts [Section 11 to Section 13, Section 115BBC, Section 164, 164A, Section 10(23C)] o Taxation of Mutual Concerns [Section 44A and Section 28(iii)] o Application vs. Diversion of Income o Minimum Alternate Tax (MAT) [Chapter XII-B (Section 115JB and Section 115JAA)] o Taxation of Firms, LLP and AOP/BOI [Section 40(b), Section 10(2A), Section 167B, Section 86] o Alternate Minimum Tax (AMT) [Chapter XII-BA (Section 115JC – 115JEE) o Taxation of Buy-Back [Chapter XII-DA (Section 115QA to Section 115QC)] o Tax on Income of Securitisation Trust [Chapter XII-EA – Section 115TCA] o Taxation of Business Trusts (REITs, InvITs) and Alternative Investment Funds (AIF) [Chapter XII-FA – Section 115UA and Chapter XII-FB – Section 115UB] o Tonnage Taxation Scheme [Chapter XII-G – Section 115VA to Section 115VZC] o Assessment Procedures [Section 116, Section 124, Section 127, Section 129, Sections 139 to 154, Section 157A] o Appeals and Revisions [Sections 246A to 255, Sections 206A to 262 & Section 260B, Section 268A, Section 158A & Section 158AA, Sections 263 to 264B] o Survey, Search and Seizure [Section 119A, Sections 131 to 132B, Sections 133 to 135A, Sections 153A to 153D] o Provisions to Counteract Unethical Tax Practice [Chapter XXI – Secs. 270A to 275, Chapter XXII – Secs. 275A to 280D, Black Money Laws] o Dispute Resolution [Chapter XIX-AA – Secs. 245MA] o Liability in Special Cases [Chapter XV – Section 159 to Section 179] o Assessment of HUF [Section 171] o Assessment of Firms and LLP [Chapter XVI – Section 184 to Section 189] o Tax Deduction and Collection at Source [Chapters XVII-B and XVII-BB – Sections 192 to 206CCA] o Taxation of Digital Transactions [Equalisation Levy and Virtual Digital Assets] o Advance Tax [Chapter XVII-C – Section 207 to Section 211, Sections 218-219] o Collection and Recovery of Tax [Section 156 and Chapter XVII-D – Section 220 to Section 231] o Interest [Sections 201(A), 206C(7), Chapter XVII-F – Sections 234A to 234D, Section 244A] o Miscellaneous Topics, STT/CTT and IFSC [Sections 269SS, 269ST, 269SU, 269T, Section 139A, Section 139AA, Sections 281, 281B, 282, 282A, 285BA, 285BB, 288, 293C, 293D, 115BBF, 115BBG] o Tax Audit and Ethical Compliances o Tax Planning, Tax Avoidance and Tax Evasion (Including GAAR) • Part II – International Taxation o Tax Incidence in India [Section 6(3), Sections 7 to 9A, Section 115JH, Section 285 and Section 285A] o Taxation of Non-Residents [Section 115A to Section 115AD, Section 115BBA and Chapter XIIA – Sections 115C to 115-I] o Double Taxation Relief (DTAA) [Chapter IX – Sections 90, 90A and 91] o Transfer Pricing [Chapter X – Section 92, Section 92F, Sections 93, 94A, 94B, 114C and Section 286] o Advance Rulings [Chapter XIX-B – Section 245N to Section 245U] o Overview of Model Tax Conventions o Application and Interpretation of Tax Treaties o Fundamentals of Base Erosion and Profit Shifting (BEPS) o Latest Developments in International Taxation
Taxmann’s Cross-Border Transactions under Tax Laws & FEMA – Practical Commentary covering Income Tax (including International Tax & Transfer Pricing), GST, Customs & FEMA, etc., with Case Laws
Author: Dr. G. Gokul Kishore
Publisher: Taxmann Publications Private Limited
Published: 2023-05-26
Total Pages: 64
ISBN-13: 9357780149
DOWNLOAD EBOOKThis book provides practical guidance based on judicial interpretation of the law and rules. It also provides an easy-to-understand commentary (with departmental clarifications) on cross-border transactions with respect to the following laws: • Income Tax (including International Tax & Transfer Pricing) • Goods & Services Tax (GST) • Customs • Foreign Exchange Management Act (FEMA) This book will be helpful for practitioners, members of the bar & bench and industry, and assessing officers. The Present Publication is the 3rd Edition, amended by the Finance Act 2023 and updated till 1st May 2023. This book is authored by Dr. Gokul Kishore & R. Subhashree, with the following noteworthy features: • [Easy-to-Understand Practical Commentary] covering: o Income Tax (including International Tax & Transfer Pricing) § Implications of International Transactions § Adoption of Appropriate Transfer Pricing (TP) § Comprehending the Creation of Permanent Establishment (PE) and Double Taxation Avoidance Arrangements (DTAA) § Ensuring Compliance with Withholding Obligations when payment is made to non-resident § Issues relating to Royalty & Fees for Technical Services (FTS), Tax Residency and Foreign Tax Credit (FTC) o GST § Examination of Cross-Border Services by applying Place of Supply & Export of Service provisions under the Integrated Goods and Services Tax Act (IGST), besides analyzing benefits to exporters o Customs § Valuation of Imported Goods under Customs Valuation Rules, when transaction value as declared by importer is not accepted § Availing Customs Duty Exemptions § Duty Remission and Rewards under various Export Promotion Schemes as provided in Foreign Trade Policy 2023 o FEMA § Compliance with Provisions of FEMA on Receipts and Payments for Export and Imports • [Exhaustive Discussion on both Basic Concepts and Issues faced by the Industry] combined with essential commentary on statutory provisions and the jurisprudence. • [Cross-references to other Chapters] wherever implications need to be understood The structure of the book is as follows: • [Chapter 1 | Customs Valuation] discusses Article VII of GATT, Customs Valuation Agreement, Section 14 of Customs Act, 1962, Customs Valuation Rules (for imported goods) and Export Valuation Rules with relevant judgments and orders. Pointers relating to transfer pricing issues have also been mentioned in this chapter • [Chapter 2 | Transfer Pricing] analyzes international transactions, associated enterprises, comparables, methods of determining Arms Length Price, TP challenges in India as per the UN TP Manual and judicial rulings, creation of marketing intangibles and TP issues relating to AMP expenses. TP assessment, adjustment and appellate remedy have also been included. To provide a 360° perspective, secondary adjustment, Country by Country Reporting (CbCr), thin capitalization, Cost Contribution Arrangements, intra-group services and cost-sharing arrangements have been succinctly covered • [Chapter 3 | Permanent Establishment & DTAAs] discusses taxing powers and sources of income. The concept of PE and types of PE have been explained through the relevant articles in various DTAAs, along with treatment by the Indian judiciary and ITAT. The attribution of profits to PE, which has significant practical implications, has also been discussed • [Chapter 4 | Incomes other than Business Income, Withholding Obligations and Foreign Tax Credit] is broad-based and to the extent relevant to cross-border transactions; it provides a commentary laced with practical guidance on residency, the definition of interest, jurisdiction to tax, dividends paid or received, taxation of royalty, FTS, salary, capital gains, other income, withholding obligations, FTC, the requirement to file the return and the concept of the representative assessee • [Chapter 5 | Import & Export under IGST Act] as applicable to import and export of goods, import of services and export of services, along with the provisions on the place of supply and refund mechanism, forms the fifth chapter • [Chapter 6 | Customs Exemption and Export Promotion Schemes under FTP] Considering the relevance to cross-border trade, Customs Duty exemptions and export promotion schemes under Foreign Trade Policy 2023 (FTP) have been discussed in the sixth chapter. • [Chapter 7 | Export and Import under FEMA & Regulations] Knowledge of obligations and provisions applicable to export and import under FEMA and regulations thereunder is integral to cross-border transactions. Therefore, a concise commentary on the same has been provided in Chapter 7 • [Chapter 8 | Dispute Resolution] Dispute resolution mechanisms under IGST Act and Customs Act, along with alternative dispute resolution under Income Tax Act, have been included. Chapter 8 also provides a broad overview of the statutory remedies available to exporters and importers
