Pranab Mukherjee to inaugurate international seminar on transfer pricing

New Delhi, Feb 17 (ANI): Union Finance Minister Pranab Mukherjee will inaugurate the international seminar on transfer pricing at Vigyan Bhawan, here today.

Being organized jointly by the Central Board of Direct Taxes (CBDT) and the Organisation for Economic Cooperation and Development (OECD) the seminar will be held from Wednesday to Friday.

Minister of state for Finance (Revenue) S.S. Palanimanickam, Secretary (Revenue) Sunil Mitra, Chairman of CBDT S.S.N. Moorthy, Head of transfer pricing unit OECD Caroline Silberztein and Michalle Levac of Canada Revenue Agency will also attend the seminar.

Besides them, members of the CBDT, Director General of Income Tax (International Taxation) Milap Jain, international transfer pricing experts and officers of Directorate of Transfer Pricing in India will also participate in the event.

Transfer pricing is a major international tax compliance issue as multinational entities tend to set transfer pricing on cross-border transactions to reduce taxable profits.

The seminar is a part of capacity building of transfer pricing resources in India and aims to discuss various important issues of transfer pricing like intangibles, cost sharing arrangement, among others. (ANI)