The recent verdict by Supreme Court on Vodafone case generates fresh debates on whether India nee... more The recent verdict by Supreme Court on Vodafone case generates fresh debates on whether India needs to review her existing legal provisions particularly with respect to offshore tax laws. In this context, formal treatment and clear demarcations between tax evasion, tax avoidance and tax planning practices are imperative. The Standing Committee on Finance in its 49 th Report on Direct Taxes Code bill, 2010(submitted to Parliament on 9 th march, 2012) recommended Controlled Foreign Corporations (CFC) rules, Advance Pricing Agreement (APA) along with General Anti Avoidance Rule(GAAR) provision to replace the Income Tax Act, 1961. The Committee also acknowledges the need for an appropriate Dispute Resolution Panel (DRP) as GAAR might result in a disproportionate discretionary power for the Income tax authority. The appropriate application of GAAR provision assumes a crucial role, in particular with countries lacking any Limitations of Benefit (LOB) clause (e.g. Mauritius) with India. Be...
Prior to the 1997 crisis, the three economies, namely Malaysia, Thailand and Indonesia, used eith... more Prior to the 1997 crisis, the three economies, namely Malaysia, Thailand and Indonesia, used either fixed or heavily managed exchange rate policies. There is a great deal of debates regarding the reasons of the East-Asian crisis by which these countries were more or less affected. The issue of an 'ideal exchange rate policy' is also hotly debated. However, after a decade, the problem of crisis has been transformed from a 'crisis' to a 'surplus.' The monetary authorities of these economies are facing the challenges of managing the reserves. Both the Bank of Thailand and Malaysia has moved from fixed to market-determined exchange rate system. Malaysia, however sticks to the fixed exchange rate policy. All the three economies have moved from base money to inflation targeting. They are using different instruments to set short-term interest rate. The Monetary Policy Committee (MPC) of the Bank of Thailand has set-up the rate of interest within the targeted zone of 3.5 per cent (per year).Other two economies are, however, not so rigid in maintain inflation-target.
The paper though criticizes the current labour policy of the NDA government, the broader objectiv... more The paper though criticizes the current labour policy of the NDA government, the broader objective of the paper is to draw inference from international experiences and also in India’s context to provide some guidelines of what should ideally be a labour policy in developing a country like India.
The recent verdict by Supreme Court on Vodafone case generates fresh debates on whether India nee... more The recent verdict by Supreme Court on Vodafone case generates fresh debates on whether India needs to review her existing legal provisions particularly with respect to offshore tax laws. In this context, formal treatment and clear demarcations between tax evasion, tax avoidance and tax planning practices are imperative. The Standing Committee on Finance in its 49 th Report on Direct Taxes Code bill, 2010(submitted to Parliament on 9 th march, 2012) recommended Controlled Foreign Corporations (CFC) rules, Advance Pricing Agreement (APA) along with General Anti Avoidance Rule(GAAR) provision to replace the Income Tax Act, 1961. The Committee also acknowledges the need for an appropriate Dispute Resolution Panel (DRP) as GAAR might result in a disproportionate discretionary power for the Income tax authority. The appropriate application of GAAR provision assumes a crucial role, in particular with countries lacking any Limitations of Benefit (LOB) clause (e.g. Mauritius) with India. Be...
Prior to the 1997 crisis, the three economies, namely Malaysia, Thailand and Indonesia, used eith... more Prior to the 1997 crisis, the three economies, namely Malaysia, Thailand and Indonesia, used either fixed or heavily managed exchange rate policies. There is a great deal of debates regarding the reasons of the East-Asian crisis by which these countries were more or less affected. The issue of an 'ideal exchange rate policy' is also hotly debated. However, after a decade, the problem of crisis has been transformed from a 'crisis' to a 'surplus.' The monetary authorities of these economies are facing the challenges of managing the reserves. Both the Bank of Thailand and Malaysia has moved from fixed to market-determined exchange rate system. Malaysia, however sticks to the fixed exchange rate policy. All the three economies have moved from base money to inflation targeting. They are using different instruments to set short-term interest rate. The Monetary Policy Committee (MPC) of the Bank of Thailand has set-up the rate of interest within the targeted zone of 3.5 per cent (per year).Other two economies are, however, not so rigid in maintain inflation-target.
The paper though criticizes the current labour policy of the NDA government, the broader objectiv... more The paper though criticizes the current labour policy of the NDA government, the broader objective of the paper is to draw inference from international experiences and also in India’s context to provide some guidelines of what should ideally be a labour policy in developing a country like India.
Uploads
Papers
Drafts