Tag Archive: corporate

Indian Corporate Law International Taxation

Corporate law varies from one state to another. It is not the same everywhere. Rules also vary in matters of stocks, shares and bonds. One needs to adhere to the several legalities as a corporate entity. The Corporate Law Team of Lakshmikumaran&Sridharan advises multinational and Indian clients in various sectors such as power, oil & gas, telecom, infrastructure, real estate, automobiles, pharmaceuticals, chemicals, electronics, insurance and information technology.

Corporate taxation in India

Corporate taxation has been volatile and dynamic in the past decade. Today, it is imperative to strategise business, bearing in mind the fundamentals of Indian taxes laws rather than its provisions. Further, the new Direct Taxes Code has become operational from April 2012. New statutes often promise to be simpler and less burdensome. Yet, taxes are an item of dynamic cost or outgo to the assesse and tax payers strive to glean tax saving opportunities.

Such assistance may encompass domestic and international income-tax matters, inbound investment structuring, tax efficient mergers and acquisitions compliant with Indian corporate and tax laws, expatriate taxation and transfer pricing.

Corporate taxation in India is cumbersome and complex and has undergone several amendments. Several judgments overlap and contradict each other. Tax incentives like those for units setup in tax-free zones, export oriented units and special economic zones have given rise to multiple interpretations and disputes. Attorneys and accountants need in-depth knowledge of the provisions including the history of amendments and related judgments and work as a team to facilitate compliance through, inter alia, harmonious construction of complicated laws.

Analysis of International taxation

International taxation is the study or determination of tax on a person or business subject to the laws of different countries or the international aspects of an individual country’s tax laws.

Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes the form of a territorial, residency, or exclusionary system. Some governments have attempted to mitigate the differing limitations of each of these three broad systems by enacting a hybrid system with characteristics of two or more.

Many governments tax individuals and/or enterprises on income. Such systems of taxation vary widely, and there are no broad general rules. These variations create the potential for double taxation (where the same income is taxed by different countries) and no taxation (where income is not taxed by any country). Income tax systems may impose tax on local income only or on worldwide income. Generally, where worldwide income is taxed, reductions of tax or foreign credits are provided for taxes paid to other jurisdictions. Limits are almost universally imposed on such credits. Multinational corporations usually employ international tax specialists, a specialty among both lawyers and accountants, to decrease their worldwide tax liabilities.

International Taxation takes in its sweep cross-border issues pertaining to double taxation, inbound investments, planning/structuring of intellectual property holding and so on.

Social Responsibility in Indian Corporate Scenario

India is one of the fastest growing countries in the world. It is the favorite hotspot destination for the investors and thus, the need arises to look at India from an international perspective. The present social marketing concepts are changing constantly and have given rise to new phenomena called corporate social responsibility.

The corporate responsibility in India is all about building, implementing and evaluating the company’s social initiatives. CSR is one of the effective tools that synergises the efforts of corporate and the social sector agencies towards sustainable growth and development of social objectives. CSR is a process of managing the costs and benefits of business activity to both internal (employees, shareholders, investors) and external (community members, civil society groups, other enterprises) stakeholders. In Indian corporate scenario, social responsibility is becoming more visible with every passing day. With the growth in the business, it is equally important to build a trustworthy relationship with the community.

There are various law firms in India, which helps in the development of CSR. Every industry has a set of risks and opportunities in the CSR area. These firms provide proper assistance with these types of risks.

Companies that want to differentiate themselves in a competitive market, can’t ignore corporate citizenship reflected by ethical labour, environmental and social practices, etc. The concept of corporate responsibility in India has increased the number of social activities performed by organisations. CSR activities companies can do are:

Benefits of CSR

Role of Government

The Government has a major role in setting standards for social responsibility in areas such as environmental protection, health and safety and employment rights. It can also provide a policy and institutional framework that stimulates companies to raise their performance.

Government actions are essential in creating an enabling environment for private sector development that diminishes risks, lowers costs, reduces barriers of operation, and raises rewards and opportunities for competitive and responsible private enterprises.

Many of the leading organisations across India have realized the importance of being connected with social causes that offer them an opportunity to promote their brands. An organisation can exhibit a better image in the society if it cares for its employees and involve them in social activities.

How Can You Choose The Perfect Corporate Attorney San Diego?

The ideal san diego business law firm assists in giving you with all feasible help that would certainly assist you in helping your business. No issue if you are looking for copyright or hallmark guidance or also liability and also legal actions, it assists you in obtaining the needed assistance from them without any kind of fears. You must make certain that the attorney recognizes exactly how to obtain your business signed up as well as additionally recognize the tax obligation effects in a correct fashion.