Adv Sherry Samuel Oommen: This article is authored by Adv Sherry Samuel Oommen. Adv Oommen, who specializes in constitution, tax and corporate laws has also cleared the final exams of the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India and the Institute of Company Secretaries of India. He has also completed his Masters Degree in Commerce, apart from obtaining a Post Graduate Diploma in Business and Corporate Laws from Symbiosis Pune. The views expressly are personal and should not be construed as a legal opinion.sherryoommen@nashcp.com.
It is not a secret that multi-national enterprises have sought to exploit gaps and mismatches in tax rules existing in various jurisdictions. These gaps or mismatches have over a course of time resulted in artificially shifting profits to low or no-tax jurisdictions where there is essentially little or no economic activity. This has resulted in little or no overall corporate tax being paid in any of the jurisdictions. Taking cognizance of this harsh reality and the need to effectively counter the same, countries have adopted a Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (popularly known as "MLI"). The term Base Erosion and Profit Shifting is hereinafter referred to as "BEPS".
What is a Multi Lateral Instrument ("MLI")?
This story is from the October - November 2022 edition of UNIQUE TIMES.
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This story is from the October - November 2022 edition of UNIQUE TIMES.
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