Union Budget 2019: The Finance Minister has proposed to provide an option to the taxpayers to make one-time payment of tax including surcharge on the amount of transfer pricing adjustment or part thereof, instead of tax on deemed interest every year in case the taxpayer does not repatriate money from its AE in India.
Budget 2019 India: The ‘Reform, perform, and Transform’ is the success mantra of transforming India. Keeping this mantra of Prime Minister Narendra Modi at the centric, the Finance Minister, in Union Budget 2019, has emphasized on promoting digital economy, simplifying tax administration and bringing in better transparency.
You might also be interested to read: Budget 2019: How Government Plans to Bridge the Digital Divide
On the Transfer Pricing Regulations front, the Finance Bill, 2019 (Bill) has primarily addressed some of the unanswered questions on secondary adjustment, whereas other proposed amendments relating to master file and Advance Pricing Agreement (APA) are more clarificatory in nature.
This article discusses the amendments / clarifications proposed in respect of secondary adjustment and other transfer pricing aspects along with certain nuances, which one could come across at the time of implementation.
Source: Financial Express
