Worldwide: Tax

India is a key destination for cross-border investments, acquisitions and commercial transactions. In this regard, several foreign law firms partner or collaborate with Indian law firms and financial advisors or act independently to advise Indian clients and multinational groups on transactions, arbitrations and various matters requiring foreign law inputs. Such collaborations have resulted in an increased frequency of foreign law firm personnel visits to India.

In a significant move to deepen foreign participation in India’s sovereign debt market, the Government of India promulgated the Income-tax (Amendment) Ordinance, 2026 on 5 June 20261, introducing a comprehensive tax exemption for eligible foreign investors investing in Government securities. Effective retrospectively from 1 April 2026, the Ordinance exempts specified income arising from Government securities from withholding tax and long-term capital gains tax, thereby addressing one of the principal tax-related barriers to foreign investment in Indian debt markets.

For multinational companies with established GCCs in India, profit repatriation is a natural extension of a successful operating model. When approached strategically, it allows businesses to optimize global cash flows while remaining aligned with India's tax and FEMA regulations.

India's corporate landscape is dominated by family-controlled businesses, which constitute approximately 80% of all enterprises and contribute about 79% to the national GDP.

The removal of the pre-CGT tax exemption from 1 July 2027 is driving increased interest in Members Voluntary Liquidations (MVL) as a tax-efficient exit strategy. This article examines how liquidator distributions...

China's Ministry of Finance and State Taxation Administration have issued groundbreaking regulations on offshore trust taxation, establishing comprehensive tax obligations across trust establishment...

With a view to mitigate the impact of external economic headwinds, provide stability to the domestic economy and support key sectors of strategic importance, the Government has introduced the Taxation and Other Laws (Amendment) Bill, 2026 (‘the Bill’) [in supersession of the earlier Income Tax (Amendment) Ordinance, 2026]. The Bill, as passed by the Lok Sabha on 6.08.2026, proposes amendments, inter-alia, to the Income-tax Act, 2025 (‘2025 Act’).

A new proposed minimum tax on discretionary trusts aims to prevent income-splitting but could inadvertently capture commercial trust structures used by property and infrastructure groups. The definitional challenge centers on what constitutes a 'discretionary trust' and whether the existing fixed trust rules are appropriate for determining scope. Without proper limitations, many multi-layered structures with no income-splitting function may face unintended tax consequences and compliance burdens.

The Supreme Court has ruled on whether the assembly of imported photocopier modules in warehouses constitutes 'manufacture' under the Central Excise Act, examining the distinction between customs duty classification and excise duty liability. This case addresses the critical question of when simple assembly operations cross the threshold into manufacturing activity for tax purposes.

With a view to mitigate the impact of external economic headwinds, provide stability to the domestic economy and support key sectors of strategic importance, the Government has introduced the Taxation and Other Laws (Amendment) Bill, 2026 (‘the Bill’) [in supersession of the earlier Income Tax (Amendment) Ordinance, 2026]. The Bill, as passed by the Lok Sabha on 6.08.2026, proposes amendments, inter-alia, to the Income-tax Act, 2025 (‘2025 Act’).

The Black Money Act of 2015 introduced stringent measures to tax undisclosed foreign income and assets held by resident taxpayers in India. What are the consequences for failing to report foreign income or assets, and how does this legislation impact tax compliance for individuals with international holdings?

India is a key destination for cross-border investments, acquisitions and commercial transactions. In this regard, several foreign law firms partner or collaborate with Indian law firms and financial advisors or act independently to advise Indian clients and multinational groups on transactions, arbitrations and various matters requiring foreign law inputs. Such collaborations have resulted in an increased frequency of foreign law firm personnel visits to India.