Chris Morgan summarises the decision of the Supreme Court in India in the Vodafone case, plus the US update, the application of the Canadian GAAR in Copthorne v The Queen, new tax measures in France and tax reform proposals in Japan.
Businesses and governments are in ‘a volatile era’ in which stable and predictable tax frameworks are ‘critical’ in maintaining the right conditions for investment, said Simon Henry, Chief Financial Officer at Royal Dutch Shell.
The seventh meeting of the OECD’s Forum on Tax Administration, held in Buenos Aires last week, brought together heads of tax administrations from 43 countries as well as business leaders.
‘NEW DELHI: In a major victory to Vodafone International Holdings, the Supreme Court on Friday set aside the Bombay high court judgement asking the company to pay income tax of Rs 11,000 crore, holding that tax authorities do not have jurisdiction on an overseas transaction.
An anti-tax abuse rule would make the tax code simpler – not more complex – the Prime Minister said yesterday.