Tax Dispute Resolution

The tax authorities argue that these AMP expenses incurred by MNC subsidiaries enhance the value of trademarks or brands owned by the foreign parent entities

In 2018, the DPE had issued an office memorandum, wounding up the Permanent Machinery of Arbitration (PMA) for settling such disputes

Even though India's overall ranking in 'Ease of doing business' had improved from 142 in 2014 to 63 in 2020, on the 'enforcement of contracts' it improved marginally from 186 in 2014 to 163 in 2020

128,733 declarations filed to resolve tax disputes of Rs 98,328 crore

The Budget proposes to strengthen the NCLT framework with e-Courts system

In a massive clean up of legacy issues, nearly one-fifth of about 5 lakh entities locked in tax litigation with the government have opted for a dispute redressal scheme

This is due to dismal participation and industry representations seeking more time for declaration

Here's a selection of Business Standard opinion pieces for the day

Instead of pursuing Vivad Se Vishwas, greater focus on collecting tax dues without dispute may yield better results

Consider factors like your chances of winning, cost of litigating, consequences of losing, implications of carrying forward losses, and so on and then decide whether to participate in the scheme

Finance secretary A B Pandey reviewed the progress under the scheme at a high-level meeting of senior officers through video conferencing

Punjab FM says not paying cess amounts to sovereign default

Firms looking at reverting to normal litigation in a bid to conserve cash

Cabinet approves changes to include litigation across forums

The CBDT has asked the regional Income Tax Department chiefs to "personally monitor" the exercise

This will act as a big booster for the government, which is staring at revenue shortage from both direct and indirect taxes

Vodafone, Cairn refuse to settle their retrospective tax cases

Scheme provides an opportunity to taxpayers who are under litigation to come forward and settle the dispute