TaxTonic Session: Decoding 'Significant Economic Presence'!
- Year of Publication: 2023
- ISBN: 0
Episode Duration:
110 minutes
Episode Background:
'TaxTonic', a new 'subscriber only' thought leadership series, is Taxsutra's endeavour to consistently deliver top notch technical content to it's readers. The labyrinth of tax rulings on convoluted transactions keeps the world of taxation unpredictable and ever-evolving. This series will feature engrossing presentations, incisive analyses and a deep-dive by the tax experts on burning issues & controversies. So, gear up for a 'tonic' to chisel your tax mind and challenge your wit.
Speaker:
Mr. Vishal Gada (Aurtus Consulting LLP)
Moderator:
Mr. Sachin Sastakar (Chartered Accountant)
What shall the episode cover?
The concept of Significant Economic Presence (SEP) has its roots in BEPS Action 1 addressing the 'Tax Challenges Arising from Digitalisation'. By virtue of BEPS Action 1, the Finance Act, 2018 introduced a new nexus rule in Section 9 in the form of SEP. After ‘significant’ amendments through the Finance Act, 2020, the Government made the law finally applicable from AY 2022-2023. SEP was bound to face practical challenges in its implementation, therefore, the Equalisation Levy was introduced as a distinct levy through Finance Acts of 2016 and 2020.
Over the past two years, the Two-Pillar Solution has made tremendous progress on the global tax policy front. India’s intention to resolve challenges arising from the Digital Economy coupled with challenges to address profit allocation to market jurisdictions has created a maze of practical challenges for the corporate world.
Taxsutra in this episode of TaxTonic deciphers the complex tax framework. The webinar discussion focuses on:
1. Understanding SEP – a New Nexus Rule
2. Interplay of SEP & Equalisation Levy
3. SEP vis-à-vis Business Connection, Royalty & FTS
4. Challenges in Profit Attribution on SEP
5. Compliance related difficulties
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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Overall Rating
- Year of Publication: 2023
- ISBN: 0
Episode Duration:
110 minutes
Episode Background:
'TaxTonic', a new 'subscriber only' thought leadership series, is Taxsutra's endeavour to consistently deliver top notch technical content to it's readers. The labyrinth of tax rulings on convoluted transactions keeps the world of taxation unpredictable and ever-evolving. This series will feature engrossing presentations, incisive analyses and a deep-dive by the tax experts on burning issues & controversies. So, gear up for a 'tonic' to chisel your tax mind and challenge your wit.
Speaker:
Mr. Vishal Gada (Aurtus Consulting LLP)
Moderator:
Mr. Sachin Sastakar (Chartered Accountant)
What shall the episode cover?
The concept of Significant Economic Presence (SEP) has its roots in BEPS Action 1 addressing the 'Tax Challenges Arising from Digitalisation'. By virtue of BEPS Action 1, the Finance Act, 2018 introduced a new nexus rule in Section 9 in the form of SEP. After ‘significant’ amendments through the Finance Act, 2020, the Government made the law finally applicable from AY 2022-2023. SEP was bound to face practical challenges in its implementation, therefore, the Equalisation Levy was introduced as a distinct levy through Finance Acts of 2016 and 2020.
Over the past two years, the Two-Pillar Solution has made tremendous progress on the global tax policy front. India’s intention to resolve challenges arising from the Digital Economy coupled with challenges to address profit allocation to market jurisdictions has created a maze of practical challenges for the corporate world.
Taxsutra in this episode of TaxTonic deciphers the complex tax framework. The webinar discussion focuses on:
1. Understanding SEP – a New Nexus Rule
2. Interplay of SEP & Equalisation Levy
3. SEP vis-à-vis Business Connection, Royalty & FTS
4. Challenges in Profit Attribution on SEP
5. Compliance related difficulties
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
