Niti Aayog proposes simplified tax rules for offshore entities

Federal policy think tank NITI Aayog on Friday proposed a presumptive taxation scheme for offshore companies deriving profits from India as part of efforts to enhance the country's appeal to investors with tax certainty and ease of doing business.

- Gireesh Chandra Prasad [e-mail]

Idea is to ensure a predictable, business-friendly regime.

(MINT)

NITI Aayog said such an optional, industry-specific scheme, along with broader legislative clarity, administrative efficiency, strong dispute resolution schemes and adoption of global best practices, will dramatically cut litigation. That will improve investor confidence and secure India’s tax base by attracting higher-quality, sustainable foreign direct investment, it said.