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US BUSINESS GROUP PUSHES FOR FAIRER TAXES, LOWER COSTS ON EXPORTS TO INDIA
July 13, 2024
|The Business Guardian
The US-India Tax Forum has recommended simplifying the withholding tax regime and rationalizing TDS and TCS provisions to boost investment and ease of doing business in India.
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Ahead of the 2024-25 Budget, the US-India Tax Forum has urged the Indian government to equalize tax rates for domestic and foreign entities across various sectors. This dedicated body, part of the US-India Strategic Partnership Forum (USISPF), emphasizes the need for a level playing field, especially in banking where foreign branches face higher taxes. Launched on February 25, 2020, the Tax Forum also underscored the importance of rationalizing corporate tax rates in light of global minimum tax trends.
The Tax Forum presented its tax amendment recommendations for the upcoming Union Budget, to be delivered by Finance Minister Nirmala Sitharaman on July 23. With around 350 member companies, the Forum serves as a platform for Indian policymakers, global tax experts, and the business community to advocate for a favourable tax environment that attracts investments to India.
هذه القصة من طبعة July 13, 2024 من The Business Guardian.
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