Opportunities for Chartered Accountants in International taxation May 2013 1 - C.A. T. P. Ostwal...
If you can't read please download the document
Opportunities for Chartered Accountants in International taxation May 2013 1 - C.A. T. P. Ostwal T.P.Ostwal & Associates The Institute of Chartered Accountants
Opportunities for Chartered Accountants in International
taxation May 2013 1 - C.A. T. P. Ostwal T.P.Ostwal & Associates
The Institute of Chartered Accountants of India EASTERN INDIA
REGIONAL COUNCIL
Slide 2
2 Opportunities for Chartered Accountants in International
Taxation May 2013 T.P.Ostwal & Associates Emerging Areas of
Practice International M& A Transaction A International M&
A Tax Treaty Application & Interpretation Transaction Advisory
Re-organisations, Spin offs and Work outs Inbound Structuring
Outbound Structuring Transfer Pricing Tax Dispute Resolution
including MAP Advance Pricing Arrangements (APA) Turnkey EPC
Contracts Taxation of Immigrants & Emigrants
Slide 3
EMERGING TAX PRACTICE AND EXPERTISE 1.Domestic Tax Experts
2.Domestic International Tax Experts 3.International International
Tax Experts 3 Opportunities for Chartered Accountants in
International Taxation T.P.Ostwal & Associates May 2013
Slide 4
4 T.P.Ostwal & Associates May 2013
Slide 5
5 Opportunities for Chartered Accountants in International
Taxation T.P.Ostwal & Associates May 2013 1. Tax Exchange
Information Agreements (TIEA) 2.Foreign Account Tax Compliance Act
(FATCA) - US Regulation 3. Foreign Income for tax compliance
requirements Inadvertent trigger 4. Foreign Tax Credit Rules 5. WHT
on payments Nokia case -an eye opener 6. General-Anti-Avoidance
Rules (GAAR) 7. Direct Tax Code (DTC) 8. Controlled Foreign
Corporation (CFC) 9. Thin Capitalization Regulation 10. White Paper
on Black Money LIST OF TIEAsTIEAs
Slide 6
11. Organisation for Economic Co-operation and Development
(OECD) 6 Beneficial Ownership Safe Harbor Rules Permanent
Establishment Issues T.P.Ostwal & Associates Opportunities for
Chartered Accountants in International Taxation May 2013
Slide 7
7 12. Emerging trend in Indian DTAAs T.P.Ostwal &
Associates LOB clause in Dividend Article Collection of Tax on
behalf of other states (countries) Examination of tax payers on
other countries by Tax Inspectors Opportunities for Chartered
Accountants in International Taxation May 2013
Slide 8
13. Electronic Commerce 8 T.P.Ostwal & Associates
Opportunities for Chartered Accountants in International Taxation
May 2013
Slide 9
9T.P.Ostwal & Associates 14. Cloud Computing Opportunities
for Chartered Accountants in International Taxation
Slide 10
15. Transfer Pricing May 2013 10 T.P.Ostwal & Associates
Source: White paper on Black Money, Ministry of Finance, May 2012
Opportunities for Chartered Accountants in International
Taxation
Slide 11
Issues and challenges in Transfer Pricing 11 T.P.Ostwal &
Associates 1. Inter Company Accounts Payable / Accounts Receivable
covered 2. Transfer of Intangible Properties and business
restructuring 3. Corporate Guarantees, keep-well agreements and
comfort letters 4. Lack of co-ordination between Transfer pricing
policies and customs valuation for Reporting 5. Poor or missing
Transfer Pricing procedures and controls within the Group 6.
Incomplete Transfer Pricing documentation 7. Safe Harbor Rules 8.
Domestic Transfer Pricing 9. UN Transfer Pricing Manual 10. APA
Opportunities for Chartered Accountants in International Taxation
May 2013
Slide 12
12 T.P.Ostwal & AssociatesMay 2013
Slide 13
13T.P.Ostwal & Associates List of TIEAs signed by India
1.Argentina (Not yet in force) 2. Bermuda 3. Bahamas 4. Baharain 5.
B ritish Virgin Islands 6. Cayman Islands 7. Guernsey 8. Isle of
Man 9. Jersey 10. Liberia 11. Liechtenstein 12. Macao 13. Monaco
14. Sint Maarten (Not yet in force) BACK
Slide 14
14 T.P.Ostwal & Associates THANK YOU T. P. Ostwal &
Associates CHARTERED ACCOUNTANTS 4 th Floor, Bharat House, 104
Mumbai Samachar Marg, fort, MUMBAI-400001. Tel No.: +91-22-40693900
Fax No.: +91-22-40693999 Mobile:+919004660107 Email: [email protected]
May 2013
