July 2023
GBCA Crossborder Insights -Tax & Regulatory Edge | July 2023
In this era of globalisation where capital and resources are flowing across countries, individuals remitting funds abroad for various purposes- such as education, travel, investments, etc. have become quite common. In order to facilitate such overseas remittances, Liberalised Remittance Scheme (LRS) was introduced for resident individuals. Understanding LRS provisions and tax implications thereon is required to avoid any regulatory lapses.
Furthermore, with rising trends in work force mobility with remote workplaces/ work from home flexibility, it is common practice for multinationals to second employees to their group companies in other countries. It is important for corporates to be aware of the tax implications arising from such secondment/ deputation arrangement.
Due to the increasing number of investment opportunities in India, it is crucial for entrepreneurs and investors to understand the implications of the so called “Angel Tax” while fund raising.
Wishing you raindrops of joy, love, and laughter this monsoon season! May this monsoon bring you refreshing showers of happiness and delight!!
With this we present our Bimonthly Newsletter – GBCA Crossborder Insights - Tax & Regulatory Edge focusing on various issues, amendments and recent trends in the areas of FEMA, International Tax & Transaction Advisory
Key Highlights of July 2023 Newsletter Issue are as under:
1. Liberalised Remittance Scheme- Overview
2. Secondment of Employees
3. Angel Tax
4. Recent Case laws & Selected FEMA Compounding Orders
