Taxpayers in India are still uncertain how the country’s tax system will develop over the next 18 months, though they have known about changes such as the new Direct Taxes Code (DTC) and goods and services tax for sometime.
The new Indian Direct Taxes Code will not increase certainty, reduce complexity or reduce the country’s litigation backlog despite these being the key objectives, says a panel of leading tax professionals.
The introduction of advance pricing agreements in India has been heralded as the “biggest hope” for transfer pricing in the country, said a panel of top Indian tax professionals.
Japan’s Tax Committee will meet in the next few weeks to discuss the much-debated national tax reforms that have been described as “disastrous” by one leading tax professional.
