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News INCOME TAX

  • Aug 27, 2015
  • SC to decide on taxation of MNC arms

    The Supreme Court is set to decide whether the government can demand taxes on Indian arms of MNCs which report advertising and brand promotion expenses above the industry average.
    The apex court is likely to take up the matter for hearing some time in November. The development is significant considering that more than a third of the R47,000 crore of income suppression that the income tax department alleged by MNCs in the 2014-15 audit stemmed from the advertising, marketing and promotional (AMP) expenses of their local arms.

    Source - http://www.financialexpress.com