Domestic, global taxation: Will Budget 2018 clear the haze around BEPS?
The government is already
under pressure to lower the corporate tax rate to 25%, especially after US
rates were cut from 35% to 21%
BUDGET NEWS : Base
Erosion and Profit Shifting (BEPS), a collective effort of the Organization for
Economic Cooperation and Development (OECD) and G20 nations, including India,
aims to provide a road map to reform the global international tax framework and
to protect legitimate tax base erosion in the context of aggressive
international tax planning.
BEPS seeks to minimise gaps and mismatches in both domestic tax
and international taxation, especially through planning around tax treaties,
which allowed multinational companies (MNCs)
to shift profits to low tax jurisdictions.
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