MFN clause: Review petition filed against SC ruling
Apex court's verdict holding that a notification is necessary for MFN clause to kick in is expected to impact MNCs working in India; tax department may reopen cases
Source: businesstoday.in
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Ease of business: GoI's approach to MFN clause needs a serious outlook
Tax treaties provide for a lower rate of tax in the country of source for residents of another country. They also provide for a situation where profits of MNCs are taxable in the source country only if there is a permanent establishment and provide for credit of taxes paid in the source country when the income is taxed once again in the residence country. This is to avoid double taxation.
Source: indiatimes.com