As global markets open up, delivery channels multiply and organisations seek to expand their horizons organically or through mergers, acquisitions and alliances. Consequently, a wealth of opportunities and a fair share of threats continue to emerge in the tax and regulatory landscape.
As businesses cross international borders and those borders themselves become increasingly blurred, the complexity of any organisation’s tax affairs grows exponentially. Managing uncertainties and complexities can no longer be treated as an afterthought. Rather, it has to become an integral part of forward planning for the entire organisation and a matter of particular strategic importance for the finance function.
The Indian tax and regulatory environment is in an unprecedented state of flux characterized both by a raft of new legislation and by continuous re-interpretation of existing laws. Material change is certain to occur whether it stems from the introduction of the Direct Taxes Code (”DTC”) – with new concepts such as General Anti-Avoidance Rules, Controlled Foreign Corporation and Place of Effective Management; from a framework for negotiating Advanced Pricing Arrangements or from the proposed Goods and Services Tax (‘GST’) regime. In parallel to these developments, the stance of tax administrators, particularly on evolving issues such as transfer pricing, customs valuation, permanent establishment and cross-border business reorganisation are getting stringent as time progresses.
As a result, tax strategy must not only respond to the prevailing tax and regulatory environment, but must also anticipate the contours of possible future developments in policy, administration and jurisprudence. Failure to do so can expose organisations to franchise risks and governance challenges, besides increasing the overall cost of doing business.
Moreover, the benefits to an organisation of using tax planning to its competitive advantage are far too important to underestimate. In today’s dynamic business environment, organisations expect the tax function to contribute, just like any other, to business and financial performance. Effective tax rate, whether domestic or across multiple jurisdictions, has direct impact on market valuation. How tax is treated in a transaction can be critical in determining the success of a new venture. The ability to minimise tax and maximize value depends on the ability to implement a forward-looking tax strategy. Particularly, the speed at which ideas can be effectively put into action is more critical than ever before.
Our core competencies
Our endeavor is to provide integrated and end to end solutions commencing with technical advice on specific issues, implementation of identified tax positions, reporting of the same in returns and other statutory filings, as well as defense of tax positions adopted in any departmental proceeding.
Our focus areas include thought leadership in our chosen areas of expertise and diligent contribution to emerging tax polices across corporate and transaction taxes, transfer pricing, GST and customs laws.
Our dispute resolution services include validation of past tax positions, implementation of litigation management trackers and representation services before quasi-judicial and judicial forums as well as alternate dispute resolution authorities such as authority for advance rulings, settlement commission.