TaxTonic Session: IFSC - A Regulatory & Tax Perspective!

Episode Duration:
95 minutes

Episode Background:
'TaxTonic', a '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. S. Vasudevan (Executive Partner, L&S)

Moderator:
Mr. Sachin Sastakar (Chartered Accountant)

What shall the episode cover?

International Financial Services Centre (IFSC) is a Special Economic Zone (SEZ) set up in Gujarat International Finance Tec City (GIFT City). The Government has granted regulatory ease with a plethora of tax incentives to the units set up in IFSC. International Financial Services Centres Authority (IFSCA) has been established as a Unified Regulator under International Financial Services Authority Act, 2019 (IFSC Act) with an intention of providing a world class ecosystem to cater to the need of the evolving Indian economy and also create an international financial platform for the global economy as a whole. IFSC has a distinct regulatory framework for Banking, Insurance and Capital Markets. It has also opened up for businesses of aircraft and ship leasing.  

Taxsutra presents the next episode of TaxTonic to unravel the nuances of the regulatory and tax provisions as applicable to IFSC. This episode primarily covers:
1. Relevant provisions of SEZ Act and Regulations
2. Regulatory provisions of IFSC Act
3. Relevant provisions of FEMA Act and Regulations
4. Tax incentives under Income Tax Act
5. Regulatory provisions under GST Act