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Union Budget'2017

5 Major Changes Related to Intrenational Taxation

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In the Union Budget ‘2017, many provisions related to International Taxation has been introduced or amended. In this 13 minutes video, I’ll explain 5 major changes related to International Taxation in Union Budget’2017, which you must know so that you can be better prepared.

One of the most important change is introduction of “Secondary Adjustment” in transfer pricing which is based on international best practices. The Secondary Adjustment would be deemed as advance to an associated enterprise if primary adjustment amount is not received within prescribed time limit and deemed interest would be applicable, taxable as Income.