![]() It trained officials for TPC and then transferred to other zones, creating dislocation and vacuum in the cell.ĭuring the time lag of eight years, the NBR has reconstituted the TPC more than five times and again a move is on in this regard.Īlthough the TPC has done a lot of groundwork earlier, including collection of Statement on International Transactions (SIT), data collection from all MNCs and many more, it could not start the task of scrutinizing tax files of MNCs as yet. Sources involved with the formation of the TPC said the NBR needs to have proper planning as to whether it wants an active TPC to check tax evasion by MNCs.Īn FE analysis finds that the NBR, sometimes, suffers from indecision on few areas of determining working process and designating officials for TPC. For this funding, the revenue board would need separate allocations dedicated to TPC. The TPC would require paying an annual subscription to get access to the international database. To start auditing tax files of the multinational companies, the cell will have to crosscheck the information of international transactions on other sides too, sources say quoting the Transfer Pricing Law. The National Board of Revenue (NBR) framed the transfer-pricing law in 2012 with intent to check tax evasion by multinational companies or MNCs through cross-border financial transactions. Officials say the much-desired transfer pricing cell (TPC) has yet to take off in full gear as it lacks access to data with its international counterparts. ![]() For all latest news, follow The Financial Express Google News channel.īangladesh's maiden bid to check tax evasion through cross-border transactions remains stalled for lack of funding to equip a watchdog agency with logistics, while capital flight remains a concern.
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