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Sanjay Jhanwar Advocate B.Com, LLB, FCAFundamentals of International Taxation & TDS on Payment to Non-Residents u/s 195 Sanjay Jhanwar Advocate B.Com, LLB, FCA 24-January-2015 © Chir Amrit Corporate School
Basis of International TaxationResidence Based Source Based 24-January-2015 © Chir Amrit Corporate School
Jurisdictional Clash 24-January-2015 © Chir Amrit Corporate SchoolInternational Double Taxation Economic Double Taxation 24-January-2015 © Chir Amrit Corporate School
International Double taxationOne legal entity is subject to tax, on same income, in 2 countries for same taxable year. Arise because most countries: tax residents on global income (i.e. regardless of source); and tax non-residents on domestic-source income. Company A resident in Country X Country X Branch Country Y Company A’s branch profits are subject to tax in two countries: in Country X due to residence; and In Country Y, due to source. 24-January-2015 © Chir Amrit Corporate School
Economic Double Taxation2 legal entities are subject to tax, on (economically) the same income, in two (or more) countries. Arises where one country applies its transfer pricing rules Taxable profits = US$ 10 million Company A Country X 5% p.a. ($ 5 million) Loan ($100 Million) Taxable profits = $ 2 million Company B Country Y If Country Y considers that the arm’s length rate of interest on the loan should be 4% p.a., it will reduce Company B’s interest deduction by $1 million Company B’s taxable profits increase by $ 1 million to $ 3 million Unless Country X provides some relief for Company A, economic double taxation will occur in respect of the $ 1 million. 24-January-2015 © Chir Amrit Corporate School
Aspects of International TaxationMulti country taxation injures flow of cross border transactions Double Tax Avoidance Agreement (DTAA) eliminates or mitigates hardship caused by multi country taxation Home country tax is obligation; host country tax is a cost (if credit not allowed) Home country is country of residence (COR) Host country is country of source of income (COS) Usual for COR to provide relief Mitigation can result in relief from double taxation, but, no refund by COR/COS 24-January-2015 © Chir Amrit Corporate School
Double Tax Avoidance Agreement (DTAA)OECD Model UN Model Organization for Economic Co-operation & Development US Model 24-January-2015 © Chir Amrit Corporate School
Double Tax Avoidance AgreementOrganization for Economic Co-operation & Development (OECD) Model Emphasis on the Residence Principle OECD Model Double Taxation Convention [approved by the 30 OECD member countries] India not a member, observer status United Nations Model More weight to the Source Principle against the Residence Principle UN Model Double Taxation Convention US Model No Tax Sparing Clause US Model Double Taxation Convention,1996 24-January-2015 © Chir Amrit Corporate School
General Structure of DTAAsArticle 6 to 22 Categories of Income Article 1 to 2 Applicability Article 3 to 5 Definitions Article 23 Elimination of Double Taxation Article 24 to 29 Miscellaneous Provisions Article 30 to 31 Final Provisions 24-January-2015 © Chir Amrit Corporate School
OECD model (Residence rule)Comparative Analysis Article UN model (Source rule) OECD model (Residence rule) Indian Treaties Article 5 Permanent Establishment Installation PE Service PE Agency PE Includes supervisory activities Threshold: 6 months Rendering of services by employees for over 6 months within 12 month period Resulting from habitual maintenance of stock of goods or merchandise for delivery Deemed PE in case of insurance enterprise Supervisory activities excluded Threshold: 12 months No such provision Mostly include supervisory activities Mostly follow UN time threshold Service PE found in one third of treaties Insurance PE occurs in 20 treaties 24-January-2015 © Chir Amrit Corporate School © 2005 BMR & Associates All rights reserved.
OECD model (Residence rule)Comparative Analysis Article UN model (Source rule) OECD model (Residence rule) Indian Treaties Article 7 Attribution of Profits Force of attraction rule – attribute to PE profits from sale of same / similar goods or same / similar business activity or associated enterprises No ‘force of attraction rule’ UN - 15 treaties OECD - 25 treaties OECD or UN with variants - 27 treaties Article 8 Shipping, Inland, Waterways Transport and Air transport In certain circumstances, profits from operation of ships may be taxed in the source State Profits taxable only in the state where the place of effective management is situated Two-third of treaties make departure from OECD rule Article 11 Taxation of Interest Tax rate in source country to be established through bilateral negotiations Tax rate in the source country not to exceed 10 percent of gross amount OECD - 36 treaties UN - 27 treaties Libya, Mauritius, Greece and Egypt -no cap on tax withholding 24-January-2015 © Chir Amrit Corporate School © 2005 BMR & Associates All rights reserved.
OECD model (Residence rule)Comparative Analysis Article UN model (Source rule) OECD model (Residence rule) Indian Treaties Article 12 Royalties Includes income from use of equipment Source state may also tax royalty Does not include rental income Taxing right exclusively with state of residence UN convention followed Exceptions - Belgium, Greece, Israel, Namibia, Netherlands and Sweden Article 13 Capital Gains Capital gains from sale of stock in certain circumstances may be taxed in the state where the company issuing shares is resident Capital gains from sale of stock shall be taxed only in the state where alienator is resident Diverse approaches – no pattern discernible Singapore, Cyprus, Mauritius and Thailand – OECD approach 24-January-2015 © Chir Amrit Corporate School © 2005 BMR & Associates All rights reserved.
© Chir Amrit Corporate SchoolOECD Model Article Content Taxation Article 6 Income from Immovable Property. Full tax in COS Article 7 Business Income. Taxable in COR In case of PE COS to levy full tax Article 8 International Shipping & Airline ONLY to country of Place of Effective Management Article 10 Dividends TDS in COS Final tax in COR Article 11 Interest Article 12. Royalty Right to tax given ONLY to COR Article 13 Capital Gains: Immovable Property COS – Full tax PE 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolOECD Model Article Content Taxation Shares in Company primarily having immovable Property Full tax by COS Other Properties COR Article 15 Salary Primarily taxable in COR If services are exercised COS COS Article 16 Director’s fees Country where the Company is resident Article 17 Artists & Sportsman COS Article 18 Pensions Only COR Article 21 Other income Article 22 Capital tax or Wealth tax 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolIndian Perspective Taxability of Non-resident in India Indian Resident’s income taxed outside India Avoidance of Double taxation 24-January-2015 © Chir Amrit Corporate School
Indian Law Charging Provision Sec. 4, 5, 6R & OR R but NOR NR Indian Income: Accrued / sourced in India Taxable Received in India Foreign Income : Accrued outside India but deemed to accrue in India by virtue of Section 9 Accrued outside India - First receipt in India Any other income accruing outside India and received outside India Not taxable (Taxable if from business controlled in India) Not taxable 24-January-2015 © Chir Amrit Corporate School
Double Taxation relief provisions in Indian Tax Law Chapter IXSection 90 Regulates a case where India has a tax treaty Taxpayer has the option to be taxed as per tax treaty or domestic tax laws, whichever is more beneficial Subject thereto, domestic law has full force Section 91 Relief from double taxation if India has no tax treaties Person resident in India is allowed credit of foreign taxes paid against amount of Indian taxes 24-January-2015 © Chir Amrit Corporate School
Effectiveness of TreatyIf there is no tax liability under domestic law – treaty cannot impose it Treaty, to the extent it is more beneficial in any respect, can override the domestic law Payer can consider lower withholding rate in terms of treaty Treaty need not always be more favourable than the domestic law Use of treaty by taxpayer is optional Choice could be qua each source of income Choice available on year on year basis 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolTreaty Interpretation: Vienna Convention on Law of Treaties Article 26 : Every treaty in force is binding upon the parties to it and must be performed by them in good faith Article 31(1) A treaty shall be interpreted in good faith in accordance with the ordinary meaning to be given to the terms of the treaty in their context and in the light of its object and purpose Article 31(2) Context is defined to include texts and subsequent agreements/instruments related to the treaty Article 31(4) Special meaning only if specifically intended by parties Article 32 Supplementary means to be used only to confirm the meaning Article 34 A treaty does not create either obligations or rights for a third state without its consent 24-January-2015 © Chir Amrit Corporate School
Treaty Interpretation: Vienna Convention on Law of TreatiesRam Jethmalani vs. Union Of India , 4 July, 2011 While India is not a party to the Vienna Convention, it contains many principles of customary international law, and the principle of interpretation, of Article 31 of the Vienna Convention, provides a broad guideline as to what could be an appropriate manner of interpreting a treaty in the Indian context also. The words ( in the treaty) are to be given their general meaning, general to lawyer and layman alike. The meaning of the diplomat rather than the lawyer. The fact that such treaties are drafted by diplomats, and not lawyers, leading to sloppiness in drafting also implies that care has to be taken to not render any word, phrase, or sentence redundant would lead to a manifestly absurd situation, particularly from a constitutional perspective. “ The Government cannot bind India in a manner that derogates from Constitutional provisions, values and imperatives. 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolApplicability of DTAA Article 1 Application of tax treaty to persons resident of one or both the Contracting States Does not apply to person who is not resident in both the Contracting States Permanent Establishment (e.g. branch) is not a person 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolArticle 4: Residence A person is a resident of a country if it is ‘liable to tax’ in the country by virtue of : Domicile Residence Place of management Any other criterion of a similar nature In case a person is resident of both countries In case of an individual – tie breaker rule determines residency In any other case – the place of effective management 24-January-2015 © Chir Amrit Corporate School
Article 4 : Residence Tie Breaker Rule is to be applied in the following order: Permanent Home Vital Personal & Economic Interest Habitual Abode Nationality Mutual Agreement Permanent home. An individual is a resident of the State in which they have a permanent home available to them (though not necessarily owned by them). If they have a permanent home available to them in both States it is necessary to look at the next test: Centre of vital interests. An individual is a resident of the State to which their 'personal and economic relations' (a wide expression intended to cover the full range of social, domestic, financial, political and cultural links and relationships) are closer. If it is not possible to determine this, or they have no permanent home available in either State, then it is necessary to look at the next test: Habitual abode. An individual is a resident of the State in which they have their habitual abode. If they have a habitual abode in both States or in neither, then the final test is: Nationality. An individual is a resident of the State of which they are a national. 24-January-2015 © Chir Amrit Corporate School
Article 5: Permanent EstablishmentPE means a fixed place of business through which business of an enterprise is wholly or partly carried on. Place of Management Branch Factory Office Workshop Mine, Oil, Gas well etc. 24-January-2015 © Chir Amrit Corporate School
Article 5 : Permanent EstablishmentDifference between OECD and UN Model Duration of presence of non-resident is essential in both models UN Model prescribes conditions for becoming a PE more liberally so that in more circumstances a business establishment will be treated as a PE UN Model, duration becomes irrelevant provided large value addition UN Model had 6 months duration test for building sites OECD Model prescribes 12 month duration test for building sites 24-January-2015 © Chir Amrit Corporate School
Article 7: Business ProfitsThe profits of an enterprise of India shall be taxable only in India. If the enterprise carries on business through a permanent establishment situated in Country A, the profits of the enterprise may be taxed in Country A but only so much of them as is directly or indirectly attributable to that permanent establishment. 24-January-2015 © Chir Amrit Corporate School
Methods of Eliminating Double TaxationExemption Method Residence country to altogether exclude foreign income from its tax base. COS is then given exclusive right to tax such income. Known as complete exemption method and is generally followed in respect of profits attributable to foreign permanent establishment or income from Immovable Property. Indian tax treaties with Denmark, Sweden and Norway embody the method in respect of certain income. Credit Method Underline concept that resident remains liable in COR on its global income However, credit of tax paid in COS is given by COR against domestic tax as if foreign tax were paid to the COR itself. 24-January-2015 © Chir Amrit Corporate School
Methods of Eliminating Double TaxationTax Sparing Tax credit sparing is an extension of the normal rule and regular tax credit to taxes that are spared by the source country, i.e. forgiven or reduced due to rebates with the intention of providing incentives to investments. Tax credit is allowed by COR, not only in respect of the taxes actually paid by it in India but also in respect of those taxes India forgoes dues to its fiscal incentive provisions under the Indian Income Tax Act. Tax sparing clause is generally not included under the OECD model 24-January-2015 © Chir Amrit Corporate School
TDS on Payments to Non Resident u/s 19524-January-2015 © Chir Amrit Corporate School
Facets of the Section… 24-January-2015 © Chir Amrit Corporate SchoolLiability for deduction from payment 195(1) Application by Payer for lower/ NIL withholding 195(2) Application by Payee for lower/NIL 195(3) Validity of the Certificate 195(4) CBDT empowered to notify rules for 195(3) 195(5) Obligation on Payer to furnish information as prescribed 195(6) CBDT empowered to notify class of persons for application to be made to AO for determination of appropriate sum chargeable 195(7) 24-January-2015 © Chir Amrit Corporate School
Difference between 195 and other TDS sectionsHow is it different? Difference between 195 and other TDS sections How? Section 195 Other TDS provisions Nature Income Chargeable under Income Tax Act Specific Payments, Whether Income or not. Sum Any Sum Above prescribed threshold Applicability Any persons Specified persons in the sections Certification for remittance Mandatory Not required 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolBirds Eye View : S. 195 Payer Any person responsible for paying Payee Non Resident (not a company) or Foreign Co. Amount Payable Interest or any other sum (other than Salaries) and Chargeable under provisions of Act Time of deduction Payment or credit whichever is earlier Conversion rate to be applied – TT Buying Rate on the date which tax is required to be deducted (R.26) Rate of Deduction Rates in force Rates of income-tax specified in the Finance Act or the rates specified in the DTAA, whichever is applicable by virtue of Section 90 or Section 90A - Circular No. 728 of October 30, 1995 24-January-2015 © Chir Amrit Corporate School
An Overview Payment to NR No No deduction of tax at sourceTaxable under IT Act Yes No Whether DTAA exists with the Contracting State As per IT Act Yes No Income Taxable under DTAA No Tax liability Yes No Rates under DTAA beneficial Deduct tax at the rates prescribed under IT Act Yes Deduct tax at the rates prescribed under DTAA 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolSum Chargeable to Tax Chargeability governed by provisions of IT Act and DTAA Nature of Income IT Act DTAA Business/Profession S. 9(1)(i) Article 7, 14 r.w. 5 Salary S. 9(1)(ii) Article 15 Dividend S. 9(1)(iv), S. 115A Article 10 Interest S. 9(1)(v), S. 115A Article 11 Royalties S. 9(1)(vi), S. 115A Article 12 Fees for Technical Services S. 9(1)(vii), S. 115A Capital Gains S. 9(1)(i), S. 45 Article 13 24-January-2015 © Chir Amrit Corporate School
Sum Chargeable to Tax 24-January-2015 © Chir Amrit Corporate SchoolAmount not chargeable to tax in India Where payment, made by resident to non-resident, was an amount not chargeable to tax in India, no tax is deductible at source even though assessee has not made an application before the AO. GE India Technology Centre Pvt. Ltd (327 ITR 456) SC When income is exempt under DTAA The expression chargeable under the provisions of the Act cannot include an income which in terms of the specific provisions of the applicable DTAA, is not exigible to tax in India. Maharasthra State Electricity Board v. CIT  90ITD793 24-January-2015 © Chir Amrit Corporate School
Section 195 : How to deal with different aspects?S.No. Nature of Transaction Applicability Reason 1. Payment by branch office of a foreign company Yes Branch of a foreign co. /concern in India is separate entity. Circular No. 740, dated April 17, 1996 2. Payment in kind Kanchanganga Sea Food Ltd. v. CIT  325 ITR 540 (SC) 3. Agent of NR making payment to NR No CIT v. Premier Tyres Ltd.  134 ITR 17 (Bom.) 4. Payment to an Indian Agent of NR Narsee Nagsee & Co. v. CIT (1959) 35 ITR 134 (Bom.) 5. Payment made to NOR Payee should be NR 6. Payee is NR at the time of tax deduction but Resident at the time of payment United Breweries Ltd. v. Asstt. CIT  83 Taxman 263 (Kar.) 7. Money paid into Court under decree obtained by NR Lalta Prasad Goenka v. Biratnagar Juice Mills Ltd.  48 ITR 653 (Cal.) 8. Regular Trading Operations CIT v. Superintending Engineer  19 Taxman 356 (AP) 24-January-2015 © Chir Amrit Corporate School
Refund of tax deducted under Section 195 (CIRCULAR NORefund of tax deducted under Section 195 (CIRCULAR NO. 7/2007, DATED and CIRCULAR NO. 07/2011 dated ) S.No. Situation Criteria Cancellation/Partial Execution of the Contract 1. The contract is cancelled No remittance is made to the non-resident 2. Contract is cancelled, remittance is duly made Remitted amount has been returned to the person responsible for deducting tax at source 3. Contract is cancelled after partial execution No remittance for non executed part 4. The contract is cancelled after partial execution and remittance related to non-executed part is made to the nonresident Amount refunded to the payer or no remittance was made but tax was deducted and deposited when amount was credited to the account of the nonresident 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolRefund of tax deducted under Section 195 (CIRCULAR NO. 7/2007, DATED & CIRCULAR NO. 07/2011 dated ) S.No. Situation Criteria 5. Amendment in law or by notification under the Act There occurs exemption of the remitted amount from tax 6. Order passed u/s 154 0r 248 0r 264 Tax deduction liability of the payer is reduced 7. Double deduction of tax amount Same amount deducted twice by mistake 8. Other than discussed above Payment of tax at higher rate under domestic law while a lower rate is prescribed under DTAA 24-January-2015 © Chir Amrit Corporate School
Furnishing information relating to payments S. 195(6) r.w. R. 37BBThreshold Limit Requirements Part A : Form 15 CA Amount of payment does not exceed Rs. 50,000 and the aggregate of such payments made during the f.y. does not exceed Rs. 2,50,000; - Part B : Form 15 CA Payments other than referred above Certificate in Form 15 CB from CA or Certificate from A.O. u/s 197 or Order from A.O. u/s 195(2) or 195 (3) 24-January-2015 © Chir Amrit Corporate School
© Chir Amrit Corporate SchoolTHANK YOU 24-January-2015 © Chir Amrit Corporate School
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