India Set to Resolve Tax Disputes With 120 U.S. Companies

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Aug. 27 — India's Department of Revenue is close to resolving tax disputes with almost 120 U.S. companies in what analysts hope is an indication of the authorities' positive intentions and shift toward a more cooperative approach.

Revenue Secretary Shaktikanta Das told a conference in New Delhi on Aug. 21 that the government is working to settle tax-related disputes with the U.S.-based companies, as well as those from Japan and elsewhere. Das stressed that the government doesn't intend to double-tax foreign entities in India.

Although government officials declined to provide details of the disputes in question, they are known to involve international tax and nonresident tax issues, specifically transfer pricing, and involve major as well as smaller U.S. companies.