Event report • Networking
Roundtable Meeting on Impact of the Finance Bill 2023 on French Companies in India
IFCCI in association with Nexdigm, organized a Roundtable Meeting on Impact of the Finance Bill 2023 on French Companies in India, on 10th May 2023.
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Indo-French Chamber of Commerce & Industry (IFCCI), in association with Nexdigm, organized a Roundtable Meeting on Impact of the Finance Bill 2023 on French Companies in India, on 10th May 2023. The Session focused on the key Amendments to the Finance Bill 2023 and its impact on the international businesses in India.
Ms. Rishika Roy, Head - Committees & Partnerships, IFCCI welcomed the members and the speaker, Mr. Maulik Doshi, Deputy Managing Director, Direct Tax, Nexdigm. Mr. Doshi introduced the topic with his theme presentation.
Under the context of the recently presented Finance Bill by the Hon’ble Finance Minister, Nirmala Sitharaman on 1st February 2023, Mr. Doshi talked about the several amendments made in the Finance Bill this year, such as the increase in the Tax Rate on Royalties/Fees for Technical Services, International Financial Service Center (IFSC) related amendments, availing Tax Treaty benefits, electronic filing of Form 10F and relaxations introduced, Capital gains in case of debt mutual funds and market linked debentures and further amendments under TDS and TCS.
This was followed by an interactive meeting with members wherein they sought clarity on a few amendments relating to the taxation of units set up in an IFSC and the increased tax rates for Royalties and Fees for Technical Services that have direct implications for the French companies operating in India.
The Session was attended by CFOs and Finance Heads of Air Liquide India, ARaymond India, Christian Dior, ERMO, Fives India Engineering & Projects, Geodis, L'Oreal and Orange Business Services and ended with an interaction over networking.
