Dear Madam,
This is with reference to the article titled Cracking the new tax code in the November issue of India Business Law Journal. The article provides a meaningful insight of the provisions of the Direct Tax Code which will certainly be of value to your readers. Additionally, we have the following comments on the new tax code.
Arguably the most vexing feature of the code, the treaty override provisions appear to be unconstitutional in that the constitution of India enjoins respect of international law and treaty obligations among nations. These provisions also seem to disregard the Vienna Convention on the law of treaties, which requires that every treaty in force is binding upon the parties to it and must be performed by them in good faith.
The Inland Revenue and the government have publicly clarified that they have no intention of disturbing international trade and have indicated that treaties will be amended by appropriate protocols to ensure their continuity and certainty.
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