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International Tax alerts - 2012

Global perspectives

Deloitte's continuous alerts keep you updated with the latest that's happening. Watch this space regularly.

ITX/35/2012 India signs protocol with UK amending the erstwhile convention between the two States.
ITX/34/2012 Recommendations of Expert Committee on retrospective amendments relating to indirect transfer
ITX/33/2012 No disallowance of expenses in computing business income under Article 7 of the India-Mauritius DTAA. However, expenses incurred for earning tax free income will not be allowed as deduction.
ITX/32/2012 CBDT prescribes specifications/ format in respect of Tax Residency Certificate for non-residents and residents
ITX/31/2012 Marketing support services rendered by an affiliate company in India does not constitute PE. Fees received from customers for use of an online platform not FTS – Mumbai Tribunal.
ITX/30/2012 CBDT clarifies specific approval requirements for borrowings in foreign currency, subject to certain conditions.
ITX/29/2012 Fees earned by a non-resident from rendering sourcing services, not taxable as Fees for Technical Services: Delhi Tribunal
ITX/28/2012 Despite the amendments made by Finance Act 2012, payment for use of copyrighted software cannot be treated as royalty under the DTAA. Activities of the LO would not constitute a PE in India - Delhi High Court
ITX/27/2012 Payment towards use of transponder capacity for broadcasting and telecasting is not royalty. No withholding tax liability for past years on retrospective amendments: Mumbai Tribunal
ITX/26/2012 AAR holds that consideration paid for acquisition of right to use allocated capacity under a consortium agreement to be taxed as royalty.
ITX/25/2012 Recommendations of Dr. Shome Committee on GAAR
ITX/24/2012 AAR holds that a Swiss partnership is not eligible for tax treaty benefits
ITX/23/2012 Services rendered in a turnkey project to be subject to tax as fee for technical services: AAR
ITX/21a/2012 AAR hold that Beneficial ownership not to prevail over legal ownership for taxing the capital gain on sale of shares
ITX/22/2012 New India-Norway tax treaty enters into force
ITX/21/2012 Draft GAAR guidelines and examples
ITX/20/2012 Due date for filing annual statement by non-resident with a Liaison Office in India extended
ITX/19/2012 Subsidiary created exclusively for carrying out Indian business of the group is a PE of the overseas group entity
ITX/18/2012 Subsidiary created exclusively for carrying out Indian business of the group is a PE of the overseas group entity
ITX/17/2012 CBDT issues clarification on reopening of completed assessments on account of retrospective amendments
ITX/16/2012 Mumbai Tribunal holds that retrospective amendments by the Finance Act, 2012 will not impact taxability of royalty under tax treaty
ITX/15/2012 AAR holds that R&D cost sharing payments are taxable as royalty
ITX/14/2012 Karnataka High Court explains the meaning of the term ‘make available’ in the definition of fees for technical service under tax treaties
ITX/13/2012 Requirements for requesting information under the India-Switzerland tax treaty relaxed
ITX/12/2012 Consideration for services of seconded employees is liable for deduction of tax at source in view of existence of a service PE
ITX/11/2012 Buy back of shares could be a considered as a colourable device for avoidance of Dividend Distribution Tax
ITX/10/2012 Business income of a resident in India, attributable to the PE outside India not exempt from tax in India under Article 7 of the DTAA
ITX/09/2012 Interest paid by PE of Foreign Bank in India to Head Office deductible. Interest received by Head Office from PE of Foreign Bank in India not taxable.
ITX/08/2012 IT services comprising of WAN, Lotus Notes and application support provided by a French Company to its Indian subsidiary company qualify as Fees for Technical Services (FTS) under India France tax treaty
ITX/07/2012 Annual Statement for providing information prescribed for non-resident having Liaison Office in India
ITX/06/2012 Payments made by a distributor for purchase of software for resale is royalty and subject to tax withholding
ITX/05/2012 India signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
ITX/04/2012 Business Support Services for general finance, taxation, legal, IT, media, etc. are consultancy services which make available know-how and are liable to be taxed as fees for technical services
ITX/03/2012 Payment of commission to Indian agent at arm’s length price does not relieve non-resident from further attribution of profits to PE in India
ITX/02/2012 Supreme Court holds that the sale of shares outside of India by Hutch to Vodafone is not liable to tax in India and accordingly Vodafone is not subject to Indian withholding tax obligations
ITX/01/2012 As per Article 7 of the India-Australia DTAA income of a PE rendering technical services would be computed under the Act on gross basis having regard to provisions of 44D and 115A of the Act.