India: Expert Committee on GAAR formed
July 19, 2012Further to the release of the recommendations on the formulation of guidelines on the application of the general anti-avoidance rule (GAAR) on 28 June 2012, it was announced on 13 July 2012 that the Prime Minister has approved the formation of an Expert Committee to undertake stakeholder consultations and finalize the guidelines.
The terms of reference of the Expert Committee will be to:
- Receive comments from stakeholders and the general public on the draft guidelines
- Vet and rework the guidelines based on the feedback
- Undertake widespread consultation on the second draft of the guidelines
- Finalize the guidelines and the road map for implementation
The Expert Committee is expected to receive comments from stakeholders till the end of July and rework the guidelines by the end of September, with the aim of finalizing the guidelines by the end of September 2012.
©copyright IBFD. This article is part of a selection of daily news from the IBFD Tax News Service (TNS) chosen by Ernst & Young professionals. All rights to the content reside with IBFD. Any use requires IBFD’s prior permission in writing. IBFD´s disclaimer applies to any and all of IBFD’s articles and publications.
Related content
As previously reported, the Expert Committee (the committee) on General Anti-Avoidance Rules (GAAR) constituted by the Government of India (GoI) issued its draft report for …
On 13 July 2012, the Indian Government established an Expert Committee on General Anti-Avoidance Rules (the Committee) to undertake stakeholder consultations and finalize the general …
The Government of India (GoI) has constituted an Expert Committee (the committee) on General Anti-Avoidance Rules (GAAR) to undertake stakeholder consultations and finalize the GAAR …
The Indian Government, via a press release dated 30 July 2012, has announced the formation of an expert committee to review the taxation of R&D …
Loading ...