Indian Government Announces 40% Tax Rate for Foreign Companies

Last month the Indian central government provided directions expressing that going forward, all remote organisations or companies whose country of administration is in India must pay a 40% corporate tax rate on their global income.

The notice will assess filings effectively made for the financial year finishing in March last year. The regulations were added to Indian legislation to control the shifting of assets subsidiaries outside India and catch them in the proverbial net so to speak.