With increase in globalization, geographical boundaries of countries have become blurred and many multinational groups try to get benefit of their global presence to minimize their overall tax costs by using low tax jurisdictions for tax planning.  One of such measures used by multinational groups is to park profits in no/ low tax countries without actually bringing such profits to ultimate parent company located in relatively higher tax jurisdiction.  This practice sometimes results in substantial/ perpetual deferral of tax payments on such profits. Rakesh Nangia, Managing Partner with inputs from Shailesh Kumar, Director, Nangia & Co contributed an article on Budget 2017: Whether India needs a Controlled Foreign Corporation regime for Business Today magazine. Attached is link to the article http://www.businesstoday.in/opinion/columns/whether-india-needs-a-controlled-foreign-corporation-regime/story/245025.html

The impact of note ban on economic growth, fiscal deficit, and jobs and taxes are set to feature prominently in Arun Jaitley’s budget speech of 2017. With just 6 days to go for the annual financial plan presentation, finance minister Arun Jaitley may come up with various amendments in various clauses related to any number of Acts. Here are the pre-budget expectations of Mr. Rakesh Nangia, Managing Partner, Nangia & Co from Budget 2017. You can also watch the video on below link:  

Every cloud has a silver lining and the pain of demonetisation may get addressed after all. It seems the government is working towards a host of direct tax incentives, to be announced in the upcoming Union Budget, buoyed by increased tax collections due to demonetisation. This could mean lower corporate tax rates . Sandeep Nagpal, Director- Direct Taxation shares his views on what India Inc is expecting from Union Budget 2017  You can watch the video on below link:

In about two weeks, Finance Minister Arun Jaitley will present his budget for this year. The anticipation is palpable in the startup community, since it comes close on the heels of the Startup India action plan announcement. The budget, hence, should take the process laid out in the action plan forward. Suraj Nangia, Partner shares his expectations of startups from Budget 2017. You can watch the video on below link: