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Getting Ready for E-invoicing in India: Perspectives on Systems Integration and Tax Compliance

E-Invoicing is the hottest topic of discussion in the Indian Industry circles since it was announced by the Govt in 2019. It has implications for the entire company right from sales and purchases to logistics and tax compliance. But the biggest impact is on the IT systems of the company because of the real-time nature of e-invoicing.

E-invoicing mandates that a company must register each B2B invoice on a Govt Invoice Registration Portal (IRP). The IRP will return a hash based IRN (Invoice Registration Number) along with a QR code, digitally signed. In the background, the information will be used to populate the supplier and buyer tax returns fields making it simpler for companies to reconcile their transactions to claim the input tax credits (ITC).

On 7th Jan, the Govt. released the APIs required for voluntary testing. E-invoicing will become mandatory from 1st April 2020 for all companies with a turnover greater than 1 billion rupees. E-invoicing is forcing companies to automate their tax compliance activities to make it real time and with the short deadline, the pressure is high. Along with E-invoicing the govt is also planning to release a simplified version of the tax returns which will be pre-populated, and which will also require buyers to take action on each and every invoice to claim their ITC.  

Since the Govt has been releasing notifications at frequent intervals and a lot of many scenarios are not addressed, there is a state of confusion, wait and watch or frantic activity in different companies. Therefore it is important to understand the implications of the e-invoicing compliance requirement for companies having an Indian subsidiary or business interest.

Key Highlights of the Webinar

With this objective in mind, TPA Global along with Cygnet Infotech invite you to an informative webinar where we will discuss the following:

  • What is E-invoicing and how does it work
  • Key approaches to prepare for E-invoicing with respect to IT systems integration
  • Overview and Demo of the Cygnet's E-invoicing Solution
  • Implications on Returns, E-way Bills and Compliance 

Speakers 

  • Keval Hutheesing , AVP Strategic Initiatives, Cygnet Infotech
  • Emily Dobbie , Associate, TPA Global, The Netherlands 

Wednesday, February 19, 2020

7:00 AM - 8:00 AM Mexico, USA and Canada
10:00 AM - 12:00 PM Brazil (BRT)
1:00 PM - 2:00 PM London (GMT)
2:00 PM - 3:00 PM Amsterdam (CET)
4:00 PM - 5:00 PM Moscow (MSK)

Register now


 
French Tax Authorities: A Different Perspective on Taxation 

Recently, Transfer pricing audits have become a significant part of the tax audits carried the French tax authorities. The DVNI is the specific department in charge of the control of multinational companies (as from €M 150 of turnover). DVNI has 500 employees and carries out around 1,200 tax audits per year. With a total amount of tax adjustments of around €20 Billion per year, the DVNI represents € 5.8 Billion per year among which €2 Billion corresponds to transfer pricing tax adjustments.  Transfer pricing adjustments affect not only corporate income tax but also trigger withholding taxes on the deemed distributed profits and the local tax adjustments.

Key Highlights of the Webinar

With this objective in mind, we invite you to an informative webinar where we will discuss the following:

  • Transfer Pricing documentation requirement in France
  • Main approach used by the French tax authorities for price checking
  • Tax adjustments – global settlement: process and potential outcomes
  • Transfer pricing documentation requirements
  • Transfer pricing vs. Thin capitalization rules: Approaches used by the DVNI and the regional Paris and Paris region (Dircofi) tax squads
  • The Google case: anti-abuse provisions and criminal charges
  • The perspectives of the transfer pricing tax audits in France: “Unified Approach” under Pillar 1 - OECD

Speaker

Wednesday, February 26, 2020

9:00 AM - 10:00 AM Mexico, USA and Canada
12:00 AM - 1:00 PM Brazil (BRT)
3:00 PM - 4:00 PM London (GMT)
4:00 PM - 5:00 PM Amsterdam (CET)
6:00 PM - 7:00 PM Moscow (MSK)

Register now


 

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