India: Taxation of foreign branch at higher rate not prevented by non-discrimination article of treaty (High Court decision)
Netherlands bank taxed at higher corporate tax rate than that applicable to domestic company
Netherlands bank taxed at higher corporate tax rate than applicable to domestic company
The Calcutta High Court held that the taxation under the Income-tax Act, 1961 of a branch of a Netherlands bank at a higher corporate tax rate than that applicable to a domestic company is not prevented by the non-discrimination article of the India-Netherlands income tax treaty.
The case is: The Royal Bank of Scotland N.V. v. CIT
Read a May 2024 report prepared by the KPMG member firm in India
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