Advisers hope for changes in Indian Budget
February 24, 2010
Hasnain Shroff, A Pradeep and Vinita Chakrabarti highlight the key transfer pricing aspects that need attention in the forthcoming Union Budget 2010.
The transfer pricing regulations in India have been consistently evolving. Formally introduced in 2001, the issues relating to interpretation and effective implementation surfaced only in 2003, when focused transfer pricing audits commenced. From thereon, the number of transfer pricing audits and corresponding adjustments has risen sharply each year, resulting in transfer pricing emerging as a key tax risk for multinational enterprises.
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