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Update: NASSCOM participated in OECD Public Consultation on Pillar One Blueprint

Blog: NASSCOM Official Blog

Dear All,

As you are aware, the Organisation for Economic Co-operation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) recently released Blueprints for public consultation on Pillar One and Pillar Two to develop a consensus-based solution to address tax challenges arising out of digitalisation of the economy.

NASSCOM has been closely following the developments regarding the BEPS 2.0 project, considering its likely impact on the technology industry and made a detailed representation to the OECD on the public consultation document. Based on our submission, we were invited by the OECD to be part of the public consultation event for Panel Two which focussed on “Tax Certainty and Administration”.

Suchint Majmudar, Advisor to NASSCOM and Partner at Deloitte Haskins & Sells, represented NASSCOM at the OECD Panel Two discussion, which focussed majorly on the ways and means through which the objective of tax certainty and avoidance of double taxation can be achieved. During the discussion, NASSCOM highlighted India’s experience with tax certainty and administration as per the following:

  1. The Advance Pricing Agreement (APA) program has been progressing well and extends to Bilateral APAs (BAPA) as well.
  2. Experience in terms of bilateral Mutual Agreement Procedures (MAP) has also been good for alleviating double tax.
  3. Authority for Advance Ruling (AAR) program has bandwidth constraints and very time consuming – results are well after the transaction

Following learnings and recommendations were also highlighted during the discussion:

We will continue to engage with the OECD to highlight issues from Indian IT-BPM industry perceptive.


The post Update: NASSCOM participated in OECD Public Consultation on Pillar One Blueprint appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

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