The Hindu : National : Cross-border transactions “need balanced thinking”

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Thursday, Jul 26, 2007
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Cross-border transactions “need balanced thinking”

Special Correspondent

CHENNAI: The Third Annual Signature Event of the Indian Branch of the Southern Regional Chapter of the International Fiscal Association (IFA) has called for a balanced thinking that is fair to business and the country at the time of cross-border transactions.

Southern Region Chapter vice-chairman V. Ranganathan said the key issues in the international cross-border transaction was to assimilate the changes in the law and a plenty of judicial pronouncements in the last 12 months. The business should seek the right direction in planning their global effective taxes.

The two-day conference, with the theme of “International Business and Tax perspective,” was inaugurated by P.V. R. Reddy, chairman of the Authority for Advance Rulings, Direct Tax, here. It covered tax residency, permanent establishments, tax considerations on inbound and outbound investments, international tax planning, Foreign Direct Investment regulations for the real estate sector, China’s tax regime and licensing and cost sharing arrangements.

IFA-IB-SRC chairman R. Bupathy said the increasing interest and involvement shown by the participants in this annual feature was indicative of the rapidly growing cross-border tax businesses and tax issues arising out of them.

“It would be the endeavour of IFA-IB-SRC to disseminate information and bring in world-renowned experts in international taxation to widen and deepen the understanding of consultants and entrepreneurs in international business,” Mr. Bupathy said. IFA-IB chairman, T P Ostwal also addressed the gathering.

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