Quote on Tax Code and Transfer Pricing by Munjal Almoula, Head of Tax, BDO India
Below the Quote on Tax Code and Transfer Pricing by Munjal Almoula, Head of Tax, BDO India
* The new tax code will be drafted with a view of removing uncertainties. It is expected to be simpler, crisper and articulated in simple language to avoid ambiguity and interpretation issues. The intent is to avoid needless litigation and provide greater certainty to taxpayers.
* “Transfer pricing compliances to be reduced significantly by allowing taxpayers having international transactions to determine the ALP for the international transactions over a block period covering 3 years. This will reduce compliance burdens for taxpayers and ease documentation maintenance.”
* “The Finance Minister has proposed extending the scope and coverage of the safe harbour rules to further international transactions with a view to reduce transfer pricing litigation. This will be a win-win for the taxpayer as well as the department and will go a long way to reduce uncertainties in transfer pricing matters.”
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