India Budget 2020: Implications for the International Community

Wednesday, February 05, 2020

Session I: 9:00 AM - 10:30 AM (IST) / 11:30 AM – 1:00 PM (SGT) /

                   7:30 PM - 9:00 PM (PT)

Session II: 7:00 PM - 8:30 PM (IST) / 8:30 AM – 10:00 AM (EST)

INTRODUCTION

The Indian Finance Minister (FM) presented the Budget for financial year (FY) 2020-21 on February 01, 2020. Amidst the continuing economic slowdown, there were huge expectations from this Budget for reviving the spirit of the economy. While the Budget has provided for abolishing of Dividend Distribution Tax and reduced personal tax rates, it stops short of introducing significant reforms required to provide an impetus to India’s economic growth.

Some of the key changes introduced in the Budget are as follows:

  • Abolition of Dividend Distribution Tax (DDT)

  • Digital economy tax changes.

  • Exemptions for Sovereign Wealth Funds.

  • Benefits for private Infrastructure Investment Trust.

  • Extension of tax incentives for start-ups.

  • Introduction of mechanism for Advance Pricing Agreements (APA) and Safe Harbour Rules (SHR) in respect of profit attribution to permanent establishments (PE).

  • Changes to the test for residency under section 6 of the Act in respect of stateless persons.

  • Amendments pertaining to tax administration / litigation.

  • Extension of the sunset period for beneficial rates of withholding tax on interest payments under section 194LC/LD of the Act.

We cordially invite you to be a part of our webinar on February 05, 2020 where we will discuss the implications of the changes announced in the Budget 2020 and these recent developments.

Flow of the session

SESSION I

9:00 AM - 10:00 AM (IST) / 11:30 AM – 12:30 PM (SGT) / 7:30 PM - 8:30 PM (PT)

Panel Discussion

10:00 AM - 10:30 AM (IST) / 12:30 PM – 1:00 PM (SGT) / 8:30 PM - 9:00 PM (PT)

Q&A

SESSION II

7:00 PM - 8:00 PM (IST) / 8:30 AM – 9:30 AM (EST)

Panel Discussion

8:00 PM - 8:30 PM (IST) / 9:30 AM – 10:00 AM (EST)

Q&A

Speakers

RAJESH SIMHAN

Leader – International Tax Practice, Nishith Desai Associates

Rajesh Simhan heads the international tax practice at Nishith Desai Associates. He primarily advises clients on complex cross-border tax and corporate structuring transactions. He also has extensive tax litigation experience and has advised / represented clients at various levels, including the High Court and Supreme Court of India. He has also acted and advised on several cross-border mergers and acquisitions and has significant experience on private equity investments. He is often quoted in leading international publications and is also a regular speaker at various conferences, both in India and abroad.

Rajesh has graduated from the National Law School of India University, Bangalore. He has also done his LL.M in Taxation from the Georgetown University Law Center, Washington D.C.

GOWREE GOKHALE

Leader – Technology, Media & Entertainment and Telecommunications (TMT), Nishith Desai Associates

A practicing lawyer for more than 20 years, Gowree Gokhale leads the IP, Technology, Media and Entertainment law practice of Nishith Desai Associates. Apart from assisting companies in high tech sectors to establish and operate their Indian operations, Gowree has been at the forefront of regulatory and policy initiatives at the firm for the TMT sector.

PARUL JAIN

Leader – International Tax Practice, Nishith Desai Associates

Parul co-heads the International Tax Practice at Nishith Desai Associates. A lawyer and a chartered accountant by profession, she has close to two decades of experience in corporate and international tax field and specializes in M&A transactions and Private Equity space. Prior to joining Nishith Desai Associates, she was partner at M&A Tax practice in one of the Big Four accounting firms. She advises extensively on cross border taxation, acquisition and reorganisation strategies including debt funding and investment strategies. She has also worked closely with renowned fund managers in structuring set up of their offshore and domestic fund platforms, including providing advice on carry structuring from a legal and tax perspective. She has been recognized by International Tax Review World Tax 2013 and has also been listed in The Legal500 Directory. She has also been recognized as one of the Leading Women Leaders in Tax 2016, 2017 and 2019 by International Tax Review.

ASHISH SODHANI

Senior Member, International Tax Practice, Nishith Desai Associates

Ashish Sodhani is a senior member of the International Tax Practice at Nishith Desai Associates. Ashish focuses on cross border tax and corporate structuring transactions including tax litigation. He has been involved in issues relating to applicability of Minimum Alternate Tax on foreign investors before the High Court and has represented clients before various forum’s including Tribunals, various High Courts and Supreme Court of India in relation to disputes on international tax. He regularly writes articles which are published in international leading publications.

Ashish holds a Bachelor’s degree in law from Government Law College, Mumbai.