Tax dept resolves 175 disputes with MNCs under MAP: Sinha

Jayant Sinha further said that minimum disputes and certainty in the tax regime are important for creating a good investment climate.
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Mar 08, 2016, 09.55 PM | Source: PTI

Tax dept resolves 175 disputes with MNCs under MAP: Sinha

Jayant Sinha further said that minimum disputes and certainty in the tax regime are important for creating a good investment climate.

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Tax dept resolves 175 disputes with MNCs under MAP: Sinha

Jayant Sinha further said that minimum disputes and certainty in the tax regime are important for creating a good investment climate.

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Tax dept resolves 175 disputes with MNCs under MAP: Sinha
As many as 175 cases of tax disputes, involving amount of Rs 5,278.91 crore, with multi-national companies have been resolved under the mutual agreement procedure (MAP) in 2015-16 so far.

"For the financial year 2015-16, 175 cases have been resolved till date under MAP and the amount involved in those cases is Rs 5,278.91 crore," Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha.

Sinha further said that minimum disputes and certainty in the tax regime are important for creating a good investment climate.

The government has taking a number of steps to resovle and minimise tax disputes. "Resolution of disputes through MAP has helped in creating a conductive environment for the foreign investors to invest in India," he said. MAP, under the Double Taxation Avoidance Agreement (DTAA), is an alternative dispute settlement mechanism available to authorities and foreign investors.

The Minister said as many as 2,64,485 tax disputes are pending before CIT(Appeals), 36,852 disputes pending before ITAT and 5482 tax cases pending before Supreme Court as on September, 2015. In a separate reply, Sinha said revenue foregone in form of corporate tax incentive for 2014-15 stood at Rs 65,067 crore. PTI BKSTax dept resolves 175 disputes with MNCs under MAP: Sinha New Delhi, Mar 8 (PTI) As many as 175 cases of tax disputes, involving amount of Rs 5,278.91 crore, with multi-national companies have been resolved under the mutual agreement procedure (MAP) in 2015-16 so far.

"For the financial year 2015-16, 175 cases have been resolved till date under MAP and the amount involved in those cases is Rs 5,278.91 crore," Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha. Sinha further said that minimum disputes and certainty in the tax regime are important for creating a good investment climate. The government has taking a number of steps to resolve and minimise tax disputes.

"Resolution of disputes through MAP has helped in creating a conductive environment for the foreign investors to invest in India," he said. MAP, under the Double Taxation Avoidance Agreement (DTAA), is an alternative dispute settlement mechanism available to authorities and foreign investors. The Minister said as many as 2,64,485 tax disputes are pending before CIT(Appeals), 36,852 disputes pending before ITAT and 5482 tax cases pending before Supreme Court as on September, 2015.

In a separate reply, Sinha said revenue foregone in form of corporate tax incentive for 2014-15 stood at Rs 65,067 crore.

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Tax dept resolves 175 disputes with MNCs under MAP: Sinha

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