MOU ON TAX MATTERS BETWEEN INDIA AND BRICS COUNTRIES

Under the chairmanship of Prime Minister Shri Narendra Modi, the Union Cabinet has approved the signing of the Memorandum of Understanding (MoU) related to tax matters with the Revenue Departments of India and BRICS countries - Brazil, Russian Republic, China and South Africa.

Objective:

The objective of this MoU is to promote collaboration between the Revenue Departments of BRICS countries and cooperation in capacity building and knowledge sharing in international forums on common interests in tax matters. Under this, it is envisaged that regular discussions have been planned to discuss common interest areas between the heads of Revenue Departments of BRICS countries, so that exchange of ideas while organising a meeting of tax experts to discuss contemporary issues in the field of international taxation. In addition, this MoU supports can be provided with the privacy and security of the exchange of information under this MoU.

Effect:

This MOU will encourage effective cooperation in tax matters. The collective approach of BRICS countries is not only being beneficial for these countries, but other developing countries too can also get the benefits in the long run.

Background:

Revenue Chiefs of BRICS countries have been meeting regularly for the discussion on possible areas of cooperation in key taxation cases and exchange of ideas based on the commitment to openness, solidarity, equality, mutual understanding, inclusive and mutually beneficial cooperation. mentioned in the Goa Declaration, issued on October 16, 2016. BRICS countries have identified four areas of mutual interest where mutual understanding and cooperation can be strengthened. The Revenue Chiefs of BRICS countries had held their meeting during the FTA conference held in Beijing in May 2016 in which it was decided to sign a MoU in these areas of cooperation.

For detailed analysis or specific queries, please write to us at:

Compliance Chambers

Advisory & Consulting

Off Address: F-2/151, Sector 11, Rohini, New Delhi | Pin Code 110085, Nearest Landmark: Fitness Centre Gym |

Mobile: +91 88007 22330, +91 9310048341

Email us at: compliance.chambers@gmail.com

Visit us at: https://compliancechambers.blogspot.in/

Compiled & Edited by:

Gaurav Gupta & Komal Garg

Comments

BLUETOOTH SIG MEMBERSHIP

The Bluetooth Special Interest Group (SIG) is a network of member organizations that are the caretakers and innovators of Bluetooth® technology. As a Bluetooth SIG member, your organization will join a community that helps you grow your business and shape the future of Bluetooth technology. OBJECTIVE OF BLUETOOTH SIG The primary purpose of the Bluetooth SIG is to support members to make sure that all Bluetooth products are qualified properly and that they comply with the Bluetooth license agreements. The Bluetooth compliance program consists of two steps, which Bluetooth SIG members have to complete – the qualification and the declaration process. WHEN DO I NEED TO BECOME A BLUETOOTH SIG MEMBER? A. Any company incorporating Bluetooth wireless technology into products, using the technology to offer goods and services or simply re-branding a product with Bluetooth technology wants to use word or symbol of ‘Bluetooth’ on their products must become a member

SIGNIFICANT BENEFICIAL OWNER - THE COMPANIES ACT PERSPECTIVE

A s per Section 469 of the Companies Act, 2013 (‘Act’) Central Government has the power to make rules for carrying out the provisions of this act. With the power of Section 469 of the Act, the CG has made Companies (Significant Beneficial Owners) Rules, 2018 for carrying out the provisions of Section 90 of the Companies Act, 2013 which is amended in Companies (Amendment) Act, 2017 under section 22. A s per section 90 , of the Act, every individual , who acting alone or together, or through one or more persons or trust, including a trust and persons resident outside India, holds beneficial interests, of not less than twenty-five per cent. or such other percentage as may be prescribed, in shares ( shares includes GDR, compulsory convertible preference shares or compulsory convertible debentures) of a company or the right to exercise, or the actual exercising of significant influence or control as defined in clause (27) of section 2 of the Act. Also as per section 2(6) ,

GRIHA - GREEN RATING FOR INTEGRATED HABITAT ASSESSMENT

Buildings have an impact on the environment in numerous ways as in it consumes resources like land, soil, trees, plastics, metals, water, electricity and also produces waste like site waste, construction waste, chemical waste etc. and because of this mess created by the buildings the cities have become a home of epidemic and causing various problems in the habitat of the general people living in those buildings as well as around them. Hence, the Ministry of New and Renewable Energy is promoting construction of green buildings through GRIHA, a green rating system in the Country. Green buildings are those buildings which optimises the use of resources in such a way that it does not harm the environment. In Indian context it refers to compliance of the National Building Code, use of resources and products which are IS certified and generates optimum waste as per Central Control Pollution Board and Ministry of Environment rules and regulations. WHAT IS GRIHA? GRIHA is India’s

Compliance Chambers

Search This Blog