Böcker av Parthasarathi Shome

Prevailing and Emerging Dilemmas in International Taxation presents an array of research papers encompassing the raging issues that confront the international tax community today because of a digitalized borderless world of commerce. However borderless the world of commerce has become owing to digitalization, nations remain divided by borders when it comes to taxation. This appositional issue has been discussed comprehensively in the chapters with scholarly insights. (i)The new global tax order that is emerging from the global organizations like OECD/G20 and the UN to border the borderless world attempts to resolve the challenge of equitable distribution of taxing rights between the developed and the developing world. The residence and market jurisdictions have been debated at length in this volume. (ii)The chapters deal with a range of topics that have sparked the debate on international taxation - (a)the issue of accepting source principle over residence, the perspectives of the UN Model Convention, (b)the debate on OECD's Pillar One and Pillar Two proposals, and (c)the Global Minimum Tax. (iii)Additionally, certain other interesting topics have been included in this volume, for example, (a)various aspects of the taxation of the gig economy, (b)tax challenges of financial innovations, such as SPACs, (c)Indian experiences in investment arbitration, and critical evaluation of faceless assessment in India, shedding light on grey areas. (iv)The chapter on retroactive taxation is a very relevant addition to the bouquet of tax issues that impact the mobility of investments globally. (v)And finally, the critical evaluation of GST has made the volume a very well-rounded compendium. The volume has retained its uniqueness by continuing with rejoinders from the co-authors, providing multiple views on each topic. The volume has also maintained an international flavour by bringing in authors from around the world.

Tax practitioners are unfamiliar with tax theory. Tax economists remain unfamiliar with tax law and tax administration. Most textbooks relate mainly to the US, UK or European experiences. Students in emerging economies remain unfamiliar with their own taxation history. This textbook fills those gaps. It covers the concept of taxes in regards to their rationale, principles, design, and common errors. It addresses distortions in consumer choices and production decisions caused by tax and redressals. The main principles of taxation¿efficiency, equity, stabilization, revenue productivity, administrative feasibility, international neutrality¿are presented and discussed. The efficiency principle requires the minimisation of distortions in the market caused by tax. Equity in taxation is another principle that is maintained through progressivity in the tax structure. Similarly, other principles have their own ramifications that are also addressed. A country¿s constitutional specification of tax assignment to different levels of government¿central, state, municipal¿are elaborated. The UK is more centralised than the US and India. India has amended its constitution to introduce a goods and services tax (GST) covering both central and state governments. Drafting of tax law is crucial for clarity and this aspect is addressed. Furthermore, the author illustrates different types of taxes such as individual income tax, corporate income tax, wealth tax, retail sales/value added/goods and services tax, selective excises, property tax, minimum taxes such as the minimum alternate tax (MAT), cash-flow tax, financial transactions tax, fringe benefits tax, customs duties and export taxes, environment tax and global carbon tax, and user charges. An emerging concern regarding the inadequacy of international taxation of multinational corporations is covered in some detail. Structural aspects of tax administration are given particular attention.