ICAI Holds Meet on International Taxation

CONNAUGHT PLACE, India - Aug. 23, 2013 - PRLog -- New Delhi, 23^rd August, 2013: The Institute of Chartered Accountants of India, the statutory body for regulation of chartered accountants in the country, in collaboration with SCOPE, an apex professional organization representing the central public enterprises, today organized a day-long conference for its members in industry. A number of eminent speakers from leading public sector companies participated in the conference. The conference was also addressed by prominent tax experts.

The key areas covered under the conference were basic concepts of taxation of cross border income streams, double taxation avoidance agreements, relevant transfer pricing concepts, law and practice, tax issue in case of outbound and inbound mergers and acquisitions, withholding tax: practical issues and relevant jurisprudence.

The conference provided taxation heads and senior executives of the corporates an opportunity to interact with peers in the profession, articulate their specific issues and share expert knowledge and experience with other participants.  As the Indian Public Sector is increasing its global presence by way of overseas ventures, acquisitions, collaborations, global operations, etc, the speakers highlighted the importance for understanding tax regimes in the host nations, bilateral tax agreements, recognition of incomes and other tax implications during the conference.

 The conference was organized on host of issues on transfer pricing, cross border transaction and merger and acquisitions. This programme was especially designed for members in Industry and working for Public sector undertakings.

 

Commenting on the seminar, Shri K Raghu, Vice President of ICAI (Institute of Charted Accountants of India) said “We are extremely delighted to organize such as an informative meet which will equip the existing and new members of ICAI with latest developments in taxation of cross border income streams and relevant transfer pricing concepts. DTC, GST, IFRS, e-learning and cloud campus are the new areas which are coming in and the members need to equip themselves. We are hopeful that this meet will further enhance the skill sets of the members”.

 

Commenting on the seminar, CA. Vijay Kumar Gupta, Chairman Committee for Members in Industry, ICAI said, “Globalization has brought challenges in the context of taxation for Indian Public Sector in terms of avoiding double taxation of same income in multiple jurisdictions, taxability of passive income streams, etc. The speakers in the conference have tried to address such challenges and discussed about withholding tax, transfer pricing regulations and other tax issues. Today, 147 PSUs out of the 225 operating PSUs either have foreign exchange earnings or foreign expenditure (according to the latest DPE survey). The conference concluded with the fact that tax efficiency is a key desirable requirement for the companies operating globally.”

 

ABOUT ICAI

The Institute of Chartered Accountants of India (ICAI) is a Statutory body established under the Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for the regulation of the profession of Chartered Accountants in India. During its 64 years of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the world.

 

ABOUT SCOPE

Standing Conference of Public Enterprises (SCOPE) is an apex professional organization representing the central public enterprises.  It also has some state enterprises, banks and other institutions as its members. SCOPE’s objective is to promote excellence in organization where Government investment is involved, its Vision is to enable member enterprises to be globally competitive in a market-driven environment.