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Budget Expectation From Fujitsu
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Friday, March 02, 2012:
Ashutosh Prabhudesai, Controller & Director Finance, FUJITSU CONSULTING INDIA: “In the Union Budget 2012, we would expect the Hon’ble Finance Minister to strike a balance between withdrawals of the previously implemented stimulus measures, including duty cuts, and introduce measures to get the GDP growth numbers back on track.
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As our growth rate suggests a weakening for FY 2011, it would work well for the Industry, if the corporate tax rates are rationalized to 25 % -down from the current rates of 30%. The Finance Act should align itself to match the Direct Tax Code (DTC) provisions to simplify tax rules and effectively bring down the average rate of taxes.
Although the implementation of unified Goods and Services Tax (GST) regime has been ruled out in this budget, the Hon’ble Finance Minister can address the issue by including measures which are in line with the eventual implementation of the GST. We are hoping that the General Anti Avoidance rules (GAAR) are carefully drafted so that they are not misused to pile up cases against assesses. It would be good to increase the scope of Advance Pricing Agreement (APA) to reduce the Transfer Pricing (TP) disputes and grant relief to the MNCs in general and the IT/ITES sector in particular, who would largely have transactions with related parties across borders.”
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Daily App Review: Klik For iPhone |
| Among all the gadgetry on display in Mission Impossible IV, perhaps the most striking was an iPhone app that could identify people who appeared on the... |
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