Direct Taxes Code - Global Think Tank

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The new Indian Direct Taxes Code (DTC) Bill proposedto be introduced from financial year 212 has created ripples within theprofessional and business community.From comprehensive general anti-avoidance rules (GAAR), a new controlledforeign corporation framework, shift in the concept of corporate residence andother radical policy changes, the new Code is poised to fundamentally impactthe way the world invests in and does business with India.

The proposed code is currently being scrutinized bythe Indian Parliament. Taking theopportunity to provide comments and recommendations on the new Code, the DTCGlobal Think Tank convened by Nishith Desai Associates analyses some of its keyinternational dimensions. The members ofthe DTC Global Think Tank have significant expertise and experience ininternational tax policy and include renowned academicians, jurists, publicpolicy experts and industry leaders from developed and developing countries.

The Report of the DTC Global Think Tank providesinteresting insights and an objective assessment of legal, constitutional andinternational law implications of specific DTC proposals that impact the globalbusiness community. It also provides a constructivecritique of the manner in which India has embraced this mammoth task ofoverhauling its tax law and provides recommendations based on internationalbest practices. The members of the ThinkTank argue in favour of a robust, fair, stable, sustainable and trust based taxregime that would enhance India’s participation in international trade andinvestment flows and facilitate its emergence as a responsible economic power.

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