Transfer pricing: India gets agressive with MNCs ahead of Budget 2013

Transfer pricing: India gets agressive with taxing MNCs: South Korea's LG Electronics Inc , Singapore property g...

Also see Some black myths about Indians' black money holdings Vodafone's £1 bn tax scandal: Is UK a soft touch on tax? FM should chop special tax concessions in Union Budget: NCAER chief India is aggressively pursuing tax claims against multinational firms operating in the country as the government seeks to rein in its budget deficit, taking particular aim at IT and back-office functions, tax officials say. It has targeted several multinational companies in recent years for tax audits on transfer-pricing, but over the past 12 months has widened the scope of the investigations, tax officials said. Authorities are now checking deals involving more than three dozen companies, focusing on transactions worth at least Rs 25 crore, officials said. Having just issued claims for the financial year to March 2009, it has shifted focus to 2009/2010. Critics worry overly aggressive tax...

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