Dear All The Central Board of Direct Taxes (CBDT) proposes to provide a relief to MNCs on the interest payable by them on the untaxed profits stashed abroad, requiring to be repatriated back to India under the transfer pricing regime. It now plans to ease a rule on the manner of computation of interest in the case of MNCs opting for a Mutual Agreement Procedure (MAP)/Advance Pricing Agreement (APA) process to settle transfer pricing disputes. 1. Rakesh Nangia, Managing Partner shares his views on aforementioned story for Hindu Business Line.

A dissenting judgment in the majority order by a tax tribunal over the issue of permanent establishment (PE) has fuelled fear of more litigation. The Income Tax Appellate Tribunal (ITAT) ruled in favor of Finland-based Nokia Network OY, engaged in manufacturing of advance mobile and fixed telephony equipment and systems.   Rakesh Nangia, Managing Partner shares his views on Dissent in Nokia tax verdict may mean more litigation for Business Standard.