KPMG in India’s Virtual Tax Conference 2020 – Taxation in the new normal

As the world struggles with COVID-19, the tax environment has shown immense volatility in the last few months. With several countries fighting for their fair share of taxes in the digital economy and the tax administration going digital, the tax landscape of 2020 is very different, and is changing at an unprecedented pace.

Many transformative legislative reforms such as MLI, Equalisation Levy, Faceless tax audit and appeal schemes, Customs Country of Origin Rules, New Incentive schemes etc. have created a new range of tax and regulatory issues that taxpayers and tax administrations are collectively learning to deal with. These measures have been taken by the Government of India to enhance capital flows and improve ease of operations in India and are leading to fresh investments and ease of doing business. However, the multitude of legislative changes and complex business environment created due to Covid throws up various issues that need discussion and analysis.

The conference was led by senior KPMG in India and Global partners along with eminent policy makers, tax administrators, business and tax leaders and subject matter experts.