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

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

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

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