CBDT invites stakeholders' comments on report pertaining to profit attribution to permanent establishment in India
New Delhi, Apr 20 (KNN) The Central Board of Direct Taxes (CBDT) has invited stakeholders’ comments on a draft committee report on attribution of profits in case of a permanent establishment (PE).
Ministry of Finance in its press release said, “CBDT places the report of the Committee on Profit Attribution on online public domain and invites suggestions/comments to be furnished electronically within 30 days from the date of publication of the aforementioned document on the website of the Department.”
Recognizing the significance of issues relating to attribution of profits to a permanent establishment as well as the need to bring greater clarity and predictability in the applicable tax regime, a Committee was formed to examine the existing scheme of profit attribution to PE under Article 7 of DTAAs and recommend changes in Rule 10 of the Income-tax Rules, 1962.
The Committee has submitted its report and it has been decided to seek suggestions/comments of the stakeholders and the general public.