Pranab To Kick Off International Seminar On Transfer Pricing

Shallow fog covers DelhiUnion Finance Minister Pranab Mukherjee will kick off the global seminar on transfer pricing at Vigyan Bhawan, New Delhi.

Being organized mutually by the Organisation for Economic Cooperation and Development (OECD) and the Central Board of Direct Taxes (CBDT), the three-day seminar will start on Wednesday.

The seminar will also be attended by Secretary (Revenue) Sunil Mitra, Minister of state for Finance (Revenue) S. S. Palanimanickam, Head of transfer pricing unit OECD Caroline Silberztein, Chairman of CBDT S. S. N. Moorthy and Michalle Levac of Canada Revenue Agency.

In addition to them, associates of the CBDT, Director General of Income Tax (International Taxation) Milap Jain, international transfer pricing specialists and officials of Directorate of Transfer Pricing in the country will also take part in the occasion.

Transfer pricing is a major global tax compliance matter as transnational bodies tend to set transfer rating on cross-border deals to lessen chargeable profits.

The seminar is a part of capacity building of transfer pricing resources in the Indian market and eyes to talk about a variety of vital issues of transfer pricing including intangibles, cost sharing system, among others. (With Input from Agencies)