US-India Strategic Partnership Forum

USISPF Launches U.S.-India tax Forum

Forum launched the U.S.-India Tax forum on February 25, 2020. The U.S.-India Tax Forum is an initiative to provide member companies with a platform to engage with relevant Government officials on tax issues as they conduct business in the U.S.-India corridor. The platform brought together policymakers and tax experts to discuss the future of taxation and how businesses and Governments can work together in a global digital world. The tax forum was supported by two knowledge partners – Deloitte and KPMG India.

Some of the key takeaways from the launch and focus areas where USISPF will engage in coming days are:

Corporate and International Tax:

  • An assessment of the impact of the lower corporate tax rate on investment sentiment and addressing procedural issues if any.
  • Indian Taxpayer charter was introduced in Budget 2020 and there is a need to understand how well it can be internationally aligned.
  • Developing an understanding if there is a need for India to relook at its treaty policy on a selective basis with key treaty partners and embrace mandatory arbitration.
  • Continued engagement with Government on the framework on Digital economy taxation which is increasingly important in the current landscape of ever-evolving business models.
  • Sharing inputs on FAQs to be released on Vivad se Vishwas direct tax scheme for effective implementation.
  • Tracking and evaluating the implications of BEPS and related provisions on tax transparency and efficiency.
  • Developing an understanding of India’s stand on the settlement of MAP with the United States and on India-US bilateral APA.
  • Evaluation of E-assessment and E-appeals and gathering broader industry feedback on the same.
  • Recommendations to the Safe harbor committee on possible rate and law revisions across sectors.

GST and Customs:

  • Sharing industry concerns on the upcoming E-invoicing scheme to be mandatorily implemented from April 1, 2020, with the GST council, CBIC, and GSTN.
  • Continued engagements with the GST council and GST policy wing on legislative and procedural issues under the GST Law across sectors.
  • Regular engagements on some of the key customs issues having an impact on the broad trade sentiments between India and the US.
  • Understanding the impact of Sabka Vishvas scheme and sharing industry feedback with the Government.

Session Hights

india leadership summit

Pragya Sahay Saksena, Chief Commissioner of Income Tax, Government of India
Mahesh Palashikar, President & CEO, GE South Asia
Malachy Nugent, Treasury Attaché, U.S. Embassy
Rashi Dhir, Senior Partner, DMD Advocates
Moderated by Akhil Bansal, Deputy CEO, KPMG India

Kajal Singh, Executive Vice-President, Goods and Services Tax Network
Amitabh Kumar, Joint Secretary – GST Council
Amit Gupta, Director – Taxation, Dell Global
Vijaya Suresh, Indirect Tax Head, Cisco
Moderated by Mahesh Jaising, National Leader- Indirect Taxes, Deloitte India

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India US bilateral trade

Akhilesh Ranjan, Former Member, Central Board of Direct Taxes
in conversation with
Mukesh Butani, Managing Partner, BMR Legal

Rasmi Ranjan Das, Joint Secretary (FT & TR), Ministry of Finance
Kamlesh Varshney, Joint Secretary (TPL), Ministry of Finance
Vinay Mangla, Head- Tax, Google India
K. Balasubramanian, Vice-President & Global Head- Corporate Taxation, Wipro
Moderated by Hitesh Gajaria, Co-Head Of Tax, KPMG in India

legislative affairs forum

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