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of <h1>Circular Defines POEM for Tax Residency: Focus on Key Management Decisions, Not Just Formal Meetings, with Illustrative Examples.</h1> The circular outlines the guiding principles for determining the Place of Effective Management (POEM) of a company, crucial for establishing its tax residency in India. It emphasizes that POEM is where key management and commercial decisions are made, not merely where formal meetings occur. The circular details criteria for determining if a company is engaged in active business outside India, including income, asset, and employee location thresholds. It also clarifies that routine operational decisions are irrelevant for POEM determination. The document provides examples to illustrate the application of these principles, emphasizing substance over form in decision-making processes.
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