https://www.taxtmi.com/article/detailed?id=461 The draft Direct Tax Code restructures corporate taxation with a lower uniform corporate rate and an additional branch profits tax, expands residency to include partly managed foreign companies, and converts Minimum Alternate Tax from a book profit basis to a gross assets basis without future credit. It replaces profit linked incentives with investment based incentives, equalises capital gains taxation, introduces an Exempt Exempt Taxation (EET) approach for savings, revises wealth tax scope and thresholds, and establishes an Advance Pricing Mechanism for transfer pricing certainty. en-us Sat, 15 Aug 2009 21:16:16 +0530 Thu, 10 Dec 2009 19:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=461 The draft Direct Tax Code restructures corporate taxation with a lower uniform corporate rate and an additional branch profits tax, expands residency to include partly managed foreign companies, and converts Minimum Alternate Tax from a book profit basis to a gross assets basis without future credit. It replaces profit linked incentives with investment based incentives, equalises capital gains taxation, introduces an Exempt Exempt Taxation (EET) approach for savings, revises wealth tax scope and thresholds, and establishes an Advance Pricing Mechanism for transfer pricing certainty. Articles Income Tax Sat, 15 Aug 2009 21:16:16 +0530 https://www.taxtmi.com/article/detailed?id=461