インド税制セミナー

KPMG金曜スクール
インド税制セミナー2011
投資規制・税制の基礎
インド税制実務の留意点
2011年5月20日開催
KPMG Thailand
Global Japanese Practice
※本セミナー資料に含まれている情報は、法律等の改変により変更される可能性があり、また
当事務所独自の解釈により作成した部分も含まれております。従って、当内容を実務に適用さ
れる際には、事前に専門家にご相談されることをお勧め致します。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
1
本日のスケジュール
13:30 - 13:40
始めの挨拶
藤井康秀
13:40 - 15:30
第一部
東野泰典
（KPMGインド）
15:30 - 15:45
インド投資規制・税制の基礎
休憩
15:45 - 16:30
第二部
ラビシンガリ
インド税制実務の留意点
（KPMGインド）
東野泰典
16:30 - 17:00
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
Q&A
2
第一部．インド投資規制・税制の基礎
2010 KPMG Phoomchai Audit Ltd. And KPMG Phoomchai Tax Ltd., a Thailand member firm of KPMG International, a Swiss cooperative. All rights reserved.
The KPMG logo and name are trademarks of KPMG International.
インド投資規制
2010 KPMG Phoomchai Audit Ltd. And KPMG Phoomchai Tax Ltd., a Thailand member firm of KPMG International, a Swiss cooperative. All rights reserved.
The KPMG logo and name are trademarks of KPMG International.
インドの外国直接投資（FDI)に関する規制
自動承認ルート
事前承認ルート
原則ほぼ全ての業種に一部セクターは出資
て100%外資の会社設比率に制限が定めら
立が認められている
れており、制限以上で
の出資には、外国投
事前許可の必要はなく資促進委員会（FIPB)
事後報告のみが要求さの事前個別承認が必
れる
要。
例：①銀行。74%超の出資を行う
場合。
②通信業で49%以上74%までの
出資の場合
②保険業で26%以上の出資の場
合、
ネガティブリスト
民間企業もしくは外
国資本の参入が認
められていない業種:
• 農業
• 原子力エネルギー
• 鉄道運輸業
• 不動産業 (ただし
住宅、ビルや工業
団地などの開発業
務は可）
• 賭博・カジノ
自動承認ルート
の代表的業種
 IT・ソフトウェア開発
 テキスタイル
 製薬・医薬品
 自動車・電機電気製
品・機械などの製造業
 アセットマネジメント
 ノンバンク金融事業
 ホテル業、観光業
建設業
卸売業
③単一ブランドを扱う小売業で
51%までの出資の場合
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
5
インドにおける外国企業進出の選択肢
プロジェクトオフィス
支店
ジョイントベンチャー
完全子会社
駐在員事務所（LO)
インドでのビジネスモデルや将来のプランニングに沿って、適切な形態での進出を検討
することが求められる。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
6
事業形態別の特徴
進出形態
可能な業務
駐在員事務所
（LO）
限られた業務の
み行える。
活動内容
取締役
－
法人税率
－
Restrictio
ns
RBI（インド準備銀
承認機関
支店
プロジェクトオフィ
特定のプロジェクトに関
ス
する業務のみ行える。
RBIで認められた限定列
きない。余剰資金
Regulator
は事務所閉鎖時
y authority
に送金可。
制限なし。
挙された業務のみ行える。
非公開会社・・・２名以上
－
－
公開会社・・・３名以上
42.024%
42.024%
32.445％
RBI
RBI
ROC （会社登記局）/ FIPB
（外国投資促進委員会）
海外からの送金、アジア
開発銀行などの国際金
融機関からの借入に
よって賄う。
必要資金は本店または
内部留保から賄う。借入
はできない。余剰資金は
本店に送金可能。
借入可能。余剰資金は
配当できるが、配当税
がかかる（16.609％）。
行）
Approval
必要経費を本店
timing から賄う。借入で
資金
プロジェクトオフィス
子会社/
ジョイントベンチャー
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
7
駐在員事務所の特徴 (“LO”＝Liaison Office)
特徴
情報収集やインドでのマーケティング調査に向いた形態。
以下の活動のみが許可されている:
• 本社・グループ会社をインドで代表する行為;
• インドでの輸出入を促進;
PE課税に注意
• 本社・グループ会社とインド会社の技術、財務面での提携関係を促
進;
• 本社とインド会社の連絡拠点となる行為
税務上の取り扱い
• インド所得税法上、LOは外国法人とみなされる。外国法人はインド
源泉所得が課税対象となる。
• LOは収益活動を禁止されているため、所得が発生しない。（銀行口
座の利息収益を除く）
• 法人所得税申告書の提出、経費支払時の源泉徴収が必要になる。
2011年6月以降より活動報告書の提出が新たに義務化。
• 会計監査が義務付けられている。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
8
支店(“BO”＝ Branch Office)の特徴
インドにおける販売拠点、営業拠点としての活動に向いた形態。
認可された活動は以下限定列挙されている:
特徴
• 商品の輸出入;
• 専門的サービスやコンサルタントサービスの提供;
• 親会社が関与している範囲での調査活動;
• 本社・グループ会社とインド会社との技術・財務的な協力関係の促進;
• インドにおいて本社を代表した、インドにおける販売及び購買の拠点としての機能;
• IT関連サービス、ソフトウェア開発サービスの提供;
• 本社・グループ会社が提供する製品の技術サポート
製造業は不可
• 航空 /海運業務
• インド所得税法上、LO同様外国法人とみなされるため、基本税率は40%（実効税率は
42.024%）になる。
税務上の取り扱い
• 法人税申告及び経費支払時の源泉徴収が必要になる。
• 会計監査が義務づけられている。
• 本支店間取引での移転価格税制の適用あり。
• 外国会社のインドにおける収益の拠点という位置づけからPEとしての申告納税を行って
いるが、支店に帰属する利益の範囲が妥当かどうかという点での税務当局からの調査に
は注意。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
9
プロジェクトオフィス（PO=Project Office）の特徴
• ある特定契約の履行のためにオフィス認可を与えるものであり、特定期間での活動に向
いた形態。（例：ターンキー契約）
特徴
• 開設時に届出を行った活動のみが認められる。
• 以下の条件を満たす場合はRBIの個別認可が不要となる。
１．プロジェクトの遂行をインド企業から請け負っている、かつ
２．以下の条件のうちの1つを満たす
①プロジェクト資金は海外からの送金によるまかなう
②プロジェクト資金は国際金融機関からの融資でまかなう
③プロジェクトに対する関係当局の認可がおりている
④プロジェクト資金は銀行などと返済期限のある融資契約が締結されている
• インド所得税法上、LOや支店同様外国法人とみなされるため、基本税率は40%（実効税
税務上の取り扱い
率は42.024%）になる。
• 法人税申告及び経費支払時の源泉徴収が必要になる。
• 会計監査が義務づけられている。
• 本店・プロジェクト事務所間取引での移転価格税制の適用あり。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
10
子会社 / ジョイントベンチャー（＝内国法人）の特徴
非公開会社（Private Company）
公開会社（ Public Company）
• 最低資本金額は10万ルピー
• 公開会社とは以下の会社をさす:
- 株式譲渡制限あり;
- 非公開会社でない会社
- 最低資本金額は50万ルピー
- 株主数最低2名以上50名まで
- 公開会社の子会社
• 定款において以下の規定あり:
- 取締役数2名以上
- 株式、社債の公募禁止
- 株主等以外からの借入禁止
• 非公開会社の場合でも、以下の条件を満たすと、
“公開会社の子会社”（＝みなし公開会社）となり、公
開会社と同じ手続きが求められる:
- 外国会社の子会社である
- インド会社法で当該外国会社が公開会社とみな
される
- インド会社の株式がすべて海外会社によって所
有されていない
日系企業がインドでビジネスを行う場合、公開会社のメリットはほとんど必要とされないた
め、非公開会社としての設立がコンプライアンスなどの手数を鑑みて望ましいといえる。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
11
公開会社と非公開会社の主な相違点
非公開会社
公開会社
最低株主数
2名
7名
株式譲渡制限
必須
不可
最低取締役数
2名
3名
取締役への報酬制限
なし
規定上限（会社の年間純利益の
11%）を超過する場合、中央政府から
の事前承認が必要となる。
損益計算書の閲覧
不可
ROCより誰でも閲覧可能
義務なし
資本金が5千万ルピーを超過する場
合、監査委員会の設置が義務付け
取締役会決議事項
株主総会決議事項
監査役の設置
重要事項の決定権限者
（例：事業、資産の売却、新規投資な
ど）
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
12
非公開会社の取締役
外国人でも就任可能？
⇒可能。一部規制業種を除きイン
ド人を入れる義務なし。任期も任
意設定可能。
取締役会の開催時期、場
所は？
⇒四半期ごとに必要。イ
ンド国外での開催も可能。
書面回覧による決議は可
能であるが、原則電話会
議、TV会議での開催は
不可。
留意事項
取締役の権限は？
⇒個々の取締役に「対外的な」会
社の代表権および業務執行権限
が与えられる。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
インド人パートナーが取締役
を構成する場合（例：ジョイン
トベンチャー）の日本側の留
意点は？
⇒取締役が3回役会を欠席す
る場合は会社法上失職要件
となる。このような自体を回避
するために欠席に関する取締
役会からの事前承認制度を
規定に織り込むなどの手当て
が必要。
13
インドでの会社設立の手順
外国投資促進委員会（FIPB)の事前承認が不要のケース
（＝自動承認ルート）
ROCへ会社設立申請書と定款等を提出。印紙税（Stamp
Duty）及び登録費用の支払いを行う。
インド事務所の
住所が必要
会社登記局（ROC)へ商号申請書を提出し、社名承認を
得る。
ROCでの審査を経て、設立証明書を入手
法的な設立日
社名承認をROCより受ける。
30日以内に創立取締役会を開催:
• 銀行口座の開設
• 親会社への株式割当発行
•
会社基本定款（MOA)および附属定款（AOA)の作成
• 会計監査人の指名
•
株主及び取締役の決定
• 追加取締役の指名（必要に応じて）
（実務的には取締役番号、デジタル署名の取得などがあ
るため、取締役候補に対して前倒しで行われる）
• 30日以内にインド準備銀行（RBI）へ資本金の払込と
株式の割当発行についての報告
• 税務番号（PAN）、源泉番号（TAN)、その他税務番号
を取得。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
14
拠点設立時のFAQ・実務上の留意点（駐在員事務所・支店の設立）
•
インド準備銀行（＝RBI）による認可までの期間は？
⇒申請準備から平均3ヶ月であるが最近は長期化傾向ある。（追加質問の対応）
⇒許可のタイミングは厳密に計ることが非常に難しく、事務所賃借の開始時期や駐在員派遣時期のタイミングに
大きな影響を与える点に留意が必要である。
•
RBIからの認可以外に行う手続きは？
⇒駐在員事務所でも納税者番号（PAN）、源泉番号（TAN）の取得はマスト。支店形態では、さらにビジネスに必
要な税務登録番号（輸出入番号、VAT番号やサービス税番号など）も必要。
•
申請する会社が会計監査を受けていない場合の問題点は？
⇒申請する外国会社の要件が数値基準で定められており、通常会計士による監査報告書済決算書（英文）の数
値を提示する必要がある。これは毎年のコンプライアンスでも提出が義務付けられているため、継続した日
本側での対応が必要となる。
•
子会社設立に伴いLO、BOを閉鎖する場合の留意点は？
⇒外国企業の拠点（LO、BO）からの現地法人への改組は不可能。拠点閉鎖と新会社設立の手続きを同時に行
う。閉鎖のタイミングや従業員の転籍、資産の譲渡などの手続きが発生。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
15
拠点設立時のFAQ、実務上の留意点（子会社設立）ーみなし公開会社の論点
みなし公開会社の論点
（ケース１）
（ケース２）
日本企業
日本企業
日本企業
タイ子会社
インド会社
インド会社
（ケース３）
日本企業
日本企業
インド企業
インド企業
50％未満
（ケース４）
50％超
インド会社
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
50％超
50％未満
インド会社
16
拠点設立時のFAQ、実務上の留意点（子会社設立）ー最近の改正
•
プレスノート1号（2005年）の撤廃。
⇒同業種での既存投資がある場合、もしくは2005年1月時点にてあった場合、新たに
同内容でのビジネス・投資を行うにあたり、外国投資促進委員会（FIPB）からの事前
承認が必要であったが、これが撤廃され、不要となった。
例）インド企業とのJVやパートナーのインド企業と技術提携契約を結んでいたが、新た
に独資にて新会社を設立し、同じビジネスを行うことを検討。
インド政府の事前認可において、パートナーからの同意書（Non-Objection Letter）が必要であり、
当該改正までは日系企業が新たなビジネスを行うにあたり、困難な状況となるケースがあった。
今後はインド政府からの事前承認が不要。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
17
拠点設立時のFAQ、実務上の留意点（子会社設立）ー外貨送金規制
– 資金調達
• 借入金
海外からの借入金（日本の親会社からの借入金など）は対外商業
借入 (ECB)規制を受ける
①産業分野の投資（資本財輸入、新規投資、設備投資）及びインフラ投資
②民間化プロセスにおける国有企業への出資
③外国直接投資
借入期限は最低3年必要。支払利息はLIBOR+350 Points
– 配当
インド地場企業が借り入れる場合も同じ
外貨送金規制（外国為替管理法：FEMA）
• 規制なし（配当税支払を条件に）
– ロイヤリティや技術サービス費用の支払
• 一定限度額を超えるとRBIの事前認可が必要だったが、撤廃（2010年5月）
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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18
その他インセンティブ制度ーSEZ（経済特区）
• SEZ（Special Economic Zone)
– 「経済特区」ｰ貿易活動や関税等に関して国外領土とみなされた免税地区
– 現在インド全体にて認可を受け稼動しているSEZは100箇所以上
– ディベロッパーと入居企業にそれぞれ税務上の恩恵が与えられる
• 入居企業の要件及び税務上の恩恵
– （要件）事業開始から5年経った時点で累積外貨獲得額がプラスでなければならない
– （恩恵）5年間法人税免除、続く5年間法人税50％免除、更に5年間は一定の要件を条
件に法人税50％免除（ただし2011年4月より最低代替税（MAT)の恩恵が撤廃されたた
め、SEZでもMATを支払う必要が生じる）
– その他、関税や中央販売税、州VATについて恩恵あり
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
19
インド税制の基礎
2010 KPMG Phoomchai Audit Ltd. And KPMG Phoomchai Tax Ltd., a Thailand member firm of KPMG International, a Swiss cooperative. All rights reserved.
The KPMG logo and name are trademarks of KPMG International.
インド税制の概要
所得税（法人・個人）
関税
インド税制度
サービス税
研究開発税
間接税
物品税
中央売上税
/付加価値税（州税）
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
21
インド税制の主な特徴
•特徴

種類が多い（特に間接税）

種類の異なる間接税同士の相殺控除制度がある

州によって異なる税制（例：州付加価値税）

外資誘致のための特別な免税制度などなし

輸出企業向けに様々なインセンティブがある

頻繁に改定される

過去に遡って適用されることがある
税負担を抑えるためには正確な最新情報が必要
税負担を抑えるためには正確な最新情報が必要
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
22
インド個人所得税
• 居住者の区分に応じて課税（非居住者、非通常の居住者、通常の居住者と3つの区分があり）
• 税率
課税所得
18万ルピーまで（注1）
税率
免税
18万ルピー超50万ルピーまで（注１）
10.3％
50万ルピー超80万ルピーまで
20.6％
80万ルピー超
30.9％
• （注1）女性は19万ルピーまで、65歳以上は24万ルピーまで免税。
• 所得控除・・・投資（インフラプロジェクト債、生命保険や年金、5年の定期預金など）の所得控除（
10万ルピーまで）や住宅ローンの利息控除や医療保険料控除など有り。
• 課税期間：4月～翌年3月
• 申告期限・・・7月31日
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
23
駐在員課税における実務上留意点
•
•
•
•
•
•
通常給料がインドポーション、日本ポーションと分かれている場合でも両国での給与所得に対する税
金支払いが必要となる。
給料の支払う会社側で支払いの際の源泉が毎月必要となる。税務当局への申告は3ヵ月ごと。
税務年度内で(a)182日以上インドへ滞在している場合、もしくは(b)当該年度で60日以上滞在かつ過
去4年で通算365日以上滞在している場合、税法上居住者としてみなされる。
非居住者であってもインドで発生した所得は納税義務があり、日本受取り給料も課税対象となる。
課税対象となる給与所得は、代表例として以下を含む（ボーナス、生活費手当、会社負担の家賃、運
転手付き車、帰省旅行、教育費補助など）。
日本からの出張者に対するインドでの課税は、日印租税条約上にて免除規定がある。（下記3つの条
件全てを満たす必要がある）
(a) 一税務年度での滞在期間が183日を超えない。
(b) 出張者の給与はインド会社から払われていない
(c) 出張者の雇用者である日本企業がインドにPEをもっていない
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
24
インド年金制度 (“PF”＝Provident Fund)
• 従業員数が20名を超える組織に属する全ての従業員について加入義務があ
り、2008年10月より駐在者にも加入義務が発生。
概要
• 基本給が拠出対象となり、雇用者・非雇用者それぞれが12%、合計24%の積
み立てを行う。（*1)
•PF積立金の受取権利は従業員に帰属する。
制度
準備基金
退職年金
預託保険
雇用者負担（料率）
従業員負担（料率）
12％
12％＋1.1％（管理費用）
（12％のうち8.33％が退職年金に充当され、なし
残額が準備基金に充当される。）*1
6,500INR×（0.5％+0.01％（管理費用））*1
なし
*1 給与月額が6,500ルピーを超える場合には、準備基金、退職年金および管理費用については実際の給与額に12％を乗じて
拠出額を算出する。ただし、預託保険及び管理費用については給与月額上限6,500ルピーに料率を乗じて拠出額を算出する。
なお、外国籍労働者についても同様の算出方法が適用される。
改正による影響
• 2010年9月の改正により外国籍労働者（＝駐在者）のPF積立金は当該従業
員が58歳になるまで原則返金不可となった。（以前は帰国時に手続きを行うこ
とで返金が行われていた）
• この結果、以下の問題が発生している。
（１）実質的な駐在員コストの増加による問題
（２）以下に積立金を会社が従業員より回収するか、管理上の問題
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
25
インド法人所得税の概要
• 実効税率
– 32.445％（現地法人）
– 42.024％（外国法人＝プロジェクト事務所、支店等）
• 税務年度：4月から3月。申告期限は9月末。
• 課税対象となる法人所得：①事業上の所得②キャピタルゲイン③営業外所得
納付期限納付税額
• 四半期ごとの前払が要求される
月利1%の延滞利息に
注意
予定納付
確定納付
6月 15日
9月 15日
12月 15日
3月 15日
9月 30日
年間見積税額の15%
年間見積税額の45%
年間見積税額の75%
年間見積税額の100%
予定納付総額との差額
• 連結納税制度、過少資本制度は現行存在しない。
• 繰越欠損金の繰越可能期間は8年間（Carry forwardのみ）。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
26
インド法人所得税の概要（最低代替税、配当税）
• 最低代替税（MAT）
– 繰越欠損金があってもMATに基づき納税が発生する。
– MATは会計上の当期利益から所定の調整を行われ計算される。
– 税率は18.5%（実効税率＝20%）
– 法人税の前払い的性格をもち、将来発生する法人税との相殺が可能（最長10年まで繰越可能）
• 配当税（DDT）
当期利益X18.5% ＞法人税額
＝MATの納付
– 配当を行う会社に課税。
– 税率は15%（実効税率は16.22%）
– 受取り側は課税されないため、支払い時に源泉徴収されない。（＝源泉税ではないため、当該
税金は追加コストになる）
インドに持株会社を作ると配当税が
インドに持株会社を作ると配当税が
二重に課せられ資金還流の観点からは不利
二重に課せられ資金還流の観点からは不利
となる。
となる。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
27
インド法人所得税の概要（配当税：続き）
持株会社を設立する場合の配当税の重複課税
手取り額が少なくなる
社
Bグループ
の方が多くの
A社
配当税を
（日本企業）
B社
配当
負担する
（日本企業）
出資
配当
配当
持株会社
配当税
出資
（インド企業）
配当
X社
Y社
（インド企業）
（インド企業）
税務署
配当
配当
出資
R社
S社
（インド企業）
（インド企業）
配当税
配当税
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
28
インド法人所得税の概要（その他の留意点）
• 外国企業のPAN取得義務（2010年4月～）
– 租税条約上定められた源泉税の軽減税率を活用するためには、インド企業から源泉を伴う送金
を受取る外国企業のPANを税務当局へ通知することが義務付けられた。
– 対象：ロイヤリティ及び技術サービス料、マネジメントFee、金利等。
この改正により、PANを取得する外国企業が、
この改正により、PANを取得する外国企業が、
インドにおいて源泉されている所得申告を行
インドにおいて源泉されている所得申告を行
うことが必要と解釈される。
うことが必要と解釈される。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
29
インド間接税の概略
＜インド国外＞
物品税
販売税（CST)：州外販売
＜インド国内＞
州付加価値税（VAT)：州内販売
関税
親会社
製品販売
原料販売
インド子会社
（日本企業）
（製造・加工販売）
顧客（インド企業）
ロイヤリティ
CST:州外仕入
原料販売
サービス提供
サービス税
VAT：州内仕入
サービス税
インド地場企業
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
インド地場企業
30
インド間接税の概略（関税①）
•仕組

輸入品に対して課税

以下税率にあるように、主に3種類の関税が物品に課せられる。
•税率
基本関税（BCD） 10％（基本税率）
相殺関税（CVD） 10.3％
追加関税（SAD)
4％
相殺関税、教育目的税の一部及び追加関税については物品税と相殺控除可能
実効税率10.64％～21.97％～26.85%（次ページ参照）
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
31
インド間接税の概略（関税②）
実効税率の判断の難しさ
（CIF価格+１％のLoading Charge）が100とする
例）ある物品の関税の税率
基本関税（ＢＣＤ）主に10％、
10 （100 x 10%）
相殺関税（ＣＶＤ）主に10％
11 （（100+10）X 10％）
教育目的税①＝ＣＶＤ×3％
輸入販売を
行う販売会
社の場合
0.33（11×3%）
教育目的税②＝上記の税金×3％
0.64（（10+11+0.33）×3%）
追加関税4％
4.88 （100+10+11+0.33+0.64)×4%
関税合計≒26.85％
実効税率が21.97％
ただし！
となる可能性
製造業者あるいは
特定の商社･販売
会社
26.85
追加関税の還付
実効税率は
実効税率が10.64％
26.85%となる
となる可能性
ただし！
すなわち
相殺関税、教育目的税①及び追加関税については物品税と相殺控除可能
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
32
インド間接税の概略（物品税）
•仕組

インド国内で製造された製品に課税（＝製造業に対する間接税）
– 取引価格がベース（一部小売価格をもとに課税）

製造業者が出庫した時点で課税

製造業者が顧客より徴収
•税率

基本税率10.3％（教育目的税を含む）
受取物品税を支払物品税又は相殺関税及び
追加関税と相殺可能
サービス税との相殺も可能
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
33
インド間接税の概略（中央販売税及び州付加価値税）
中央販売税（CST）

州を越えて販売した場合に課税

販売元が顧客より徴収

税率は2%（原則州付加価値税と同じであるが、所定書類の整備により2%）

仕入税額控除ができないため単純追加コストとなる点に留意
州付加価値税（VAT）

州内の販売に課税

仕入税額控除を受けられる（＝各販売段階の付加価値部分にのみ課税）

販売元が顧客より徴収

税率は基本12.5%であるが州税であり、州によってまたは品目によって異なる。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
34
インド間接税の概略（サービス税）
•仕組
 所定のサービスの提供に対して課税（100種類超のサービス）
 サービス提供者が受益者より徴収
•税率
 10.3％（教育目的税を含む）
支払サービス税と受取サービス税の相殺控除が
可能。物品税との相殺控除も可能。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
35
インド税制の概略（移転価格）
• 2001年より導入。所得税法にて規定。
概要
• OECDガイドラインをベースに作成。
• 事前価格合意制度（APA）やセーフハーバーなどの措置は未導入。
• 独立価格比準拠法 (“CUP”)
• 再販売価格基準法 (“RPM”)
算定方法
• 原価基準法 (“CPM”)
• 利益分割法 (“PSM”)
• 取引単位営業利益法 (“TNMM”)
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
36
インド税制の概略（移転価格）
• 文書化
コンプライアンス
移転価格の文書整備、毎年更新（関連者取引が1,000万ルピー以上は義務）
（注：グローバルベースでの移転価格スタディではインド税務当局は不十分と判断
する）
• 証明書の入手
-
会計士レポート（=3CEB）（関連会社取引が1ルピーでもある場合）
-
税務申告書とあわせて税務当局へ提出する（2011年より11月期限へ延長）
• 文書保管を怠った場合や税務当局からの開示要求に応えなかった場合：取引
価格の2%
ペナルティ
• 会計士レポート（=3CEB）の未提出の場合：100,000ルピー
• 税務調査対象選定年度は毎年更新されるが、FY2007-2008の調査の場合では、
年間関連者取引が1億5千万ルピー以上が対象。
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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37
インドでの税務調査～裁判までの流れ
更に不服のケース
税務当局の調査官（＝AO）により税務申告書その他の
Reviewが行われ、調査対象が選ばれる。
（移転価格の調査の場合、AOから1億5千万ルピー以上
の関係会社間取引がある企業について調査依頼が移転
価格調査官（＝TPO)へ指示される。
税務高等裁判所（ITAT）への上訴
高等裁判所（HC)への上訴（ITAT判決から120日以内）
最高裁判所（SC）への上訴
税務調査の結果をもとにAOからDraft Assessment
Orderがだされる。（TP調査の結果もこのOrderに組み込
まれる）
当該オーダーに不服がある場合30日以内に異議申立を
行う。
DRPルートの場合、
判決結果をもとにFinal Orderが発行され、
支払いが必要
紛争解決機構（DRP)とは？
CITAルートの場合
Final Orderの際に
支払いが必要
・2009年10月に導入。
・CITAレベルでの裁判の迅速化、中立性の確保を目的とする
税務下級裁判所
紛争解決機構
・9ヶ月以内での判決を義務付けられる
（CITA)
（DRP)
・税務当局が敗訴した場合はそれ以上の上訴ができない。
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
*主に移転価格案件
38
新所得税法（＝DTC）の概要
主要な論点
•
法人所得税率の引き下げ??（25%⇒30%）
•
外国法人に対する法人所得税率も内国法人同様30%となる。
（ただしBranch Profit Taxが追加で15%課される予定＝外国法人の実効税率40.5%）
移転価格における事前価格合意制度（APA）の導入
•
二重課税や課税回避に関する規定、税務当局の権限強化（GAAR）
2012年4月1日からの導入が予定されている。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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obligate or bind any member firm. All rights reserved.
39
物品サービス税（GST ）
•
•
2012年4月1日を予定
パイロットテストが今年複数州にて行われる。
タイムライン
•
アルコール製品や石油製品などGSTの対象外
予定。
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
•
•
GST
初年度 12% から 20% , 2年目12% to 18%, 3
年目16% （例外項目あり）
•
フレームワーク
予想される税率
国税部分と州税部分に分かれた「二重構造」
GSTに向けての中央販売税（CST）の廃止
統合の対象
•
物品税/ サービス税/ 相殺関税/ 特別追加関税
その他教育目的税等
•
州付加価値税（VAT）/ 娯楽税/ 入域税等
40
第二部．インド税制実務の留意点
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Macro Trends in International
taxation
2010 KPMG Phoomchai Audit Ltd. And KPMG Phoomchai Tax Ltd., a Thailand member firm of KPMG International, a Swiss cooperative. All rights reserved.
The KPMG logo and name are trademarks of KPMG International.
International Tax – Revenue Approach
 Cross border deals / transactions increasingly scrutinized
Estimated amount of
USD 7 billion locked in
 Electronic tracking of foreign remittances from 1 July 2009
 Dedicated Commissioner of Income Tax (Appeals) (“CIT(A)”) / Dispute
international tax
litigation
Resolution Panel (“DRP”) / Income Tax Appellate Tribunal (“ITAT”) Benches
for International tax / Transfer Pricing
 Co-ordination between Customs and Transfer pricing authorities
 Increased focus on training to Tax Officers on International Tax
 Expansion in resources dealing in International Taxation
 Increased investments in databases and technologies
 India - an observer member in the OECD since May 2007
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
43
Increased Revenue Focus – Key Areas
Latest developments
 Engineering, Procurement and Construction (“EPC”) Contracts - offshore
supply taxation challenged
 Permanent Establishment (“PE”) disguised as Liaison Office (“LO”) – E-mail,
other correspondences scrutinized
 Profit attribution to a Dependent Agent Permanent Establishment (“DAPE”)
based on Functions, Assets & Risks (“FAR”) - global losses ignored
 Transfer of Technical know-how treated as Royalty
 Exchange of Information Article invoked - Bank Branch was a PE and not a tax
resident in Sweden - India Sweden Tax Treaty benefit denied
Recent
Focus
 Withholding tax implication on indirect acquisition of an
Indian Company
 Invoking Representative Assessee provisions
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
44
Alternate Tax Dispute Resolution – an update
Mutual Agreement Procedure (“MAP”)
Finance Minister: MAP
 MAP generally resorted by some MNCs based in USA, Japan & UK
should be encouraged
 Indo-US Competent Authorities recently arrived at a mutual
which has emerged as
agreement in respect of US captive providing software / IT enabled services
a preferred alternate
dispute mechanism
 MAP experiences in case of Vishakhapatnam Port Trust, Coca-Cola, eFunds,
Cable News Network
Dispute Resolution Panel (“DRP”)
 Over 1,000 cases filed across 8 cities - strain on 9 month timeline
 Very short hearing notices and time limit set for hearing
 In many cases, legal issues are not adequately dealt with
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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obligate or bind any member firm. All rights reserved.
45
AAR route vs. Normal route
Authority of Advance
Ruling (“AAR”) route
Normal route
High level
Supreme Court
(“SC”)
SC
High Court (“HC”)
HC
ITAT
Resorted only
in exceptional
circumstances
Cuts lower level
litigation
2008
AAR
19
ITAT
118
2009
AAR
31
ITAT
149
2010
AAR
27
ITAT
192
AAR
CIT(A) /
DRP
Assessing Officer
(“AO”)
Orders Passed
Eligible
Applicant
Low level
Estimated time lines:
10 -15 yrs from date of
transaction
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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Estimated time lines for
AAR order:
6-12 months from date of
filing of Application
Increase in popularity of AAR
as an Alternate Dispute
Mechanism
46
Tax Treaty Information - Recent Updates
Exchange of Information Agreements
Government to enter into Exchange of
Information with various countries like
 British Virgin Islands
 Cayman Islands
 Gibraltar
 Jersey
Tax Treaty update
 Tax Treaty with Netherlands under re-negotiation
 Treaty with Hong Kong under negotiation
 Signed a Protocol amending Switzerland Tax Treaty
for exchange of information
 Proposed re-negotiation of Indo - Mauritius Tax
Treaty
 Guernsey
 Isle of Man
 Netherlands Antilles
 Macau
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
47
Transfer Pricing In India
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The KPMG logo and name are trademarks of KPMG International.
Typical transfer pricing issues faced by Sogo Shosha Companies
Distributors
Japanese Sub
Co. in India
Japanese Co.
• Indian Revenue Authorities look for higher net profit margins
in India
Customer
• Low net profits/losses in initial years attract significant
transfer pricing adjustments to their taxable income
Service Providers
Japanese Co.
Sales
Market
Support
Services
Japanese Sub Co. in
India
Customer
• Cost plus mark-up - an appropriate model for Market support service (MSS)
providers engaged in routine market support services.
• Revenue Authorities typically characterise MSS providers as Commission
Agents or even traders (sans title to goods); Service fee (i.e. cost plus markup) not acceptable in such cases
• Increasing litigation on Commission agent vs MSS provider issue in Japanese
subsidiaries in India
Marketing Intangibles
• High advertising & marketing spend by Japanese subsidiaries in India often seen as promotion of Japan-owned brands in India
• Revenue authorities seek arm’s length compensation on such expenditure in lieu of providing marketing services towards
creation of marketing intangible in India
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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49
Way forward
 Correct Pricing Model from Transfer Pricing perspective
 Involvement in price negotiations and contract finalization with customers not acceptable for MSS
providers from transfer pricing perspective; ‘Commission on sales’ model to be adopted in such cases.
 Need to capture correct characterisation of activities (MSS provider vs. Commission Agent) performed by
Japanese subsidiary in India, supported by documentary evidences
 Compensation model needs to be consistent with the business model
 Mutual Agreement Procedure (“MAP”)
 An effective & speedy alternate mechanism for resolving international tax / transfer pricing disputes (often
leading to double taxation); Competent authorities of each State work towards a mutually acceptable
solution
 Indo-Japan tax treaty provides for MAP in respect of transfer pricing matters; Competent authorities of both
the States are meeting regularly to arrive at successful MAPs
Key benefits
• Speedy resolution – Indian competent authorities are endeavoring to resolve MAP cases within 12
months
• Elimination of (economic) double taxation issues
• Tax neutrality for MNC at group level assuming same/similar tax rate
• MAP resolutions often followed at field level/first appellate level for subsequent years
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
50
Permanent Establishments
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Maintenance of stock of goods – Whether PE ?
SCo.
Invoices for goods
directly
Singapore
India
Ships goods based on
purchase order
ARL
ISP
India
JAL
Agreement
Provide repair /
overhaul aircraft
components
Pays directly
OEM
Customers
UK
Maintain stock
of replacement
Components
Delivers goods
Facts
• ISP (Independent logistics service provider) provides warehouse
space to SCo.
• SCo.’s representative to have access to warehouse for inventory
verification, inspection, repackaging etc.
Facts
• ARL to provide repair / overhaul aircraft components
• JAL to maintain stock of replacement components
• Goods to remain property SCo.
• JAL to use replacement stock when original components under
repair
• ISP delivers hard disks to OEMs on behalf of SCo.
• Replacement stock to remain property of ARL
AAR: Demarcated warehouse constitutes a Fixed place PE:
Mumbai Tribunal: ARL does not have a PE in India
• ISP made adequate space available to SCo.
• Though stock was stored at specific physical locations but these
places were under control of JAL
• SCo.’s representative had right to enter warehouse for
inspection etc.
• SCo. and ISP worked in cohesion to ensure prompt delivery demarcated space exists for SCo. from where its sales activities
were carried on
• The demarcated space in the warehouse of ISP constitutes PE of
SCo. under Article 5(1)
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
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• Business of ARL neither carried nor sought or projected to be
carried out from such location
• JAL maintains stock on behalf of ARL for standby use and not
delivery – No DAPE
Whether use of Replacement Stock constitutes Royalty ? Matter
referred back to CIT (Appeals)
52
Subsidiary Company – whether PE?
Facts
DC AG
Sale of RM
•
DC AG, set up a JV with TELCO viz. DCIL in India for the manufacture /
assembly and sale of cars
•
DC AG sold RM, CKDs and other parts to DCIL
•
DCIL Role:
– Manufacture and sale of CBUs for sale to Indian consumers
Germany
Commission
payment based
on sales
– Liaison activities in connection with Direct Sales by DCAG for a
commission based on sales
India
•
Direct Sale
to Consumers
MD & ED of DCIL were deputed by DCAG
Issues for Consideration
• Formation of PE – whether fixed place / Place of Management PE was
formed due to deputation of MD and ED?
• Agency PE – DCIL is a DAPE of DC AG in respect of cars sold directly to
Indian consumers?
DCIL
Sale to Consumers
TELCO
Mumbai Tribunal: No fixed place / Place of Management PE
•
•
No Fixed place PE : Mere existence of a subsidiary does not constitute a PE
– DCAG was not given right to use DCIL’s premises
– Sale of CKDs to DCIL was on P2P basis; DCIL does not constitute
sales outlet / warehouse of DCAG
No Place of Management : DCAG in India as it has separate BOD from DCIL
– MD and ED were deputed as employees of DCIL
Liaisons Activities
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obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
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53
Subsidiary Company – Whether PE ?
Facts
eFC, US
US
eFCIT, US
!00%
India
eFIIPL, India
Issues for Consideration
• Formation of PE ?
•
eFC and eFCIT, US (USCo.) indirectly own 100% of Indian Co. – eFIIPL (ICo.)
•
ICo. provides call center, financial shared and software development services
to USCo.
•
ICo. compensated by way of remuneration
•
Tax Authorities determined that USCo. had a PE in India
•
Profits attributed to PE - based on ratio of India assets to Global assets
•
USCo. initiated MAP for one year:
Competent authorities did not reach an agreement on existence of PE
•
However, Profit Attribution Basis agreed to avoid double taxation
• Delhi
Revenue
appliedFixed
MAP findings
later
years
Tribunal:
PlacetoPE
/ Service
PE exists
•
Activities not in the nature of preparatory & auxiliary
•
US Cos has a fixed place PE / service PE
- Existence of sales outlet
• Attribution of profits? Applicability
Morgan Stanley decision?
•
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obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
•
-
Use of assets free of cost
-
Risk borne by F Co
-
Contractual agreement
-
Role of key employees; Control and supervision
MAP resolution to be viewed as an application of DTAA to e-commerce
environment
54
Liaison Office – Whether PE ?
M Fabrikant & Sons Inc, (US Co.)
Direct payment by
US Co.
US
India
Jebon Corporation, (HO)
Export the selected
diamonds to US
LO, India
Korea
Invoice
raised by
HO
Indian Suppliers
LO purchase finished
loose diamonds
Facts and Issues
• US Co set up a LO in India for purchase of finished loose diamonds
from the Indian market
• Activities of LO limited to preliminary checks of the diamonds,
negotiation of final purchase price, assorting, packing, storage and
delivery of the diamonds to the customs house
• Tax authorities contended that activities of the LO lead to value
addition of the goods hence LO functioned as a PE of US Co
Mumbai Tribunal: No income accrues to LO if activity limited to purchase of
goods for the purpose of export
• The aforementioned activities such as preliminary check, negotiation of
price, etc. did not bring any physical or quality change in the goods
• The function of the LO was prior to the purchase of diamonds and not
subsequent to the purchases
• As per section 9, no income can be deemed to accrue or arise in India to
a non-resident whose activity is confined to purchasing activities for the
purpose of export
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
India
Orders
directly to
HO
Indian Buyers
LO, India
Facts and Issues
• HO (operating through LO in India) was engaged in the business of
supply of Circuit Boards, LCD etc.
• Activities of LO comprised of procuring purchase orders, identifying /
negotiating with buyers, follow-up for payment and post-sales support
• Tax authorities contended that LO was engaged in promotion of
import in India by procuring purchase orders after negotiating the deal
and therefore LO constituted a PE in India
Karnataka High Court : Commercial activities of a liaison office taxable in
India
• LO had been carrying on commercial activities restricted by RBI
• The fact that no action was initiated by RBI, would not render the
findings recorded by the tax officer as erroneous or illegal
• Merely because the buyers placed orders/ made payments directly with/
to the HO would not be sufficient to hold that the work done by the LO
was limited to liaisoning and it did not constitute a PE
• Mere non-signing of a written contract by the LO officials would not
absolve the LO from the liability of being taxed
55
PE – Recent updates
Key Takeaways / Impact:
 Maintenance of stock of goods being regarded as PE
 ‘Control’ exercised on stock / delivery of stock to customers appears to be an important factor for
determining existence of PE
 Premises of Third Party can also constitute a PE
 Whether Subsidiary company can be regarded as a PE of the Foreign Company ?
– Nature of activities relevant in determining existence of PE
 Liaison office may be regarded as PE if carrying on commercial activities in India
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
56
Past PE Litigations: Involving Japanese companies
Supreme Court:
 Ishikawajma-Harima Heavy Industries Ltd v. Director of Income Tax
 Commissioner of Income-tax v. Toshoku Ltd.
ITAT:
 Mitsui & Co. Ltd. v. Assistant Commissioner of Income-tax
 UNITIKA Ltd. v. Assistant Commissioner of Income-tax
 Sumitomo Corporation v. Deputy Commissioner of Income-tax
 Sojitz Corporation v. Assistant Director of Income-tax
AAR:
 Dassault Systems K.K.
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
57
Cross Border
M&A
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The KPMG logo and name are trademarks of KPMG International.
Cross Border M&A – Recent Updates
AAR Ruling
E*Trade USA
US
Mauritius
E*Trade
HSBC Violet
Mauritius
Mauritius
Sale of shares of ILFS, India
India
IL&FS
India
Facts
 M Co (a WOS of US Co), incorporated in Mauritius, holds a TRC
issued by the Mauritian Revenue


M Co held shares in a listed Indian company (I Co)

M Co claimed capital gains tax exemption under the India Mauritius
Tax Treaty

Tax Treaty benefits denied by Tax authorities – ‘substance’ of M Co
challenged
M Co sold shares in I Co to an unrelated Mauritius company, H Co
under a private arrangement
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.

Validity of Circular 789 - TRC issued by the Mauritius Tax Authority is a
presumptive evidence of beneficial ownership for dividend and capital gains

SC decision in case of Azadi Bachao Andolan validating the Circular applies

Scope of inquiry on US parent company to be confined on the lines of the
legal position laid down by the SC

Based on SC decision in Azadi Bachao Andolan as well as Circular 789 Capital Gains tax exemption under India-Mauritius tax treaty available
Ratio in E*Trade subsequently followed
Similar view expressed by AAR in case of D B Zwirn Mauritius Trading,
wherein a Mauritius based company (M Co), holding a TRC issued by the
Mauritian Revenue Authority, transferred its shares in Quippo Telecom
Infrastructure Limited, an Indian Company (I Co.) to another Mauritius
based company under a “share purchase agreement”. It was held that:
– TRC constituted a valid and sufficient evidence of residential status
under the Mauritius DTAA; and
– Gain on transfer of shares in Indian Company by a Mauritius based
Company is liable to tax only in Mauritius in terms of the IndiaMauritius DTAA
Current Status of E*Trade Ruling: Tax Authorities have filed a Special Leave
Petition (SLP) with the Supreme Court of India against the ruling of AAR
contending that the ruling effectively prevented the Department from making an
inquiry into the real state of matters and was therefore bad in law and ought to
be quashed.
59
Cross Border M&A – Recent Updates
Issues for Consideration
PG Germany
Proposed share transfer

Can CG on transfer of shares by PG Netherlands to NR be held taxable in
India on the ground that PG Germany is a beneficial owner?

Is dividend received by PG Netherlands taxable in India?

Is PG Netherlands acting as a conduit/ sham entity interposed for avoiding
capital gains tax in India?
PG Netherlands
AAR Ruling
Non resident
PG India
Overseas
India

No factual / legal basis to conclude that PG Germany is the real & beneficial
owner

PG Netherlands, although a subsidiary of PG Germany, is a distinct legal
entity

Transfer of shares of Indian company (PG India) by a PG Netherlands (NR) to
another NR is not taxable under the India Netherlands Tax Treaty

Unfair to assume that PG Netherlands acting as a conduit to siphon off gains
to the ultimate holding company

Facts
 PG Netherlands and PG India are part of KSPG Germany
 At incorporation of PG India, PG Germany was the sole shareholder
 Subsequently all shares in PG India transferred to PG Netherlands by PG
Germany for a consideration


PG Netherlands made substantial equity investment in PG India to facilitate
its expansion plans
PG Netherlands proposes to transfer shares of PG India to another non
resident
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firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
Dividend received by PG Netherlands will be exempt subject to payment of
DDT by PG India
In the recent case of VNU International B.V., involving similar facts as in
KSPG case, AAR held that:
• gains on transfer of shares in an Indian Company by VNU International (N
Co), a Netherlands based company, to other Non-Resident company, is
taxable only in Netherlands in terms of Netherlands DTAA
• As the transaction was not taxable in India, TP and withholding tax
provisions shall not apply
• N Co required to file Income Tax Return in India, irrespective of the fact that
no income was taxable in India by virtue of the provisions of the Netherlands
DTAA
60
Cross Border M&A – Recent Updates
Issues for Consideration
Goodyear Tire &
100%
Rubber Company (US Co.)

Share
Co. to S Co., without consideration?
holding
US
Profit or gain arose to US Co. on account of transfer of shares in I

S Co. is liable to tax in respect of contribution of shares of I Co.
under Section 56 of the Act. ?
Singapore
74%
Share
holding
Goodyear Orient

TP laws were applicable to the aforesaid transaction?
Company (Private)

Tax is required to be deducted under the provisions of Section 195
of the Act either by the US Co. or S Co.?
Limited (S Co.)
AAR Ruling
India
Goodyear India
Limited (I Co.)
Transfer of
shares in I Co.
to S Co.
Facts



No consideration would accrue/ arise to US Co. on transfer of shares

US Co. cannot be said to have derived any profit/ gain from
transaction (Dana Corporation and Amiantit International Holding Ltd)

As the ‘consideration’ is incapable of being valued/ it remains
As a part of its global corporate strategy, US Co., contemplated
unascertainable on the occurrence of the taxable event, the question
a reorganization of its investment in I Co.
of applying Section 45 read with Section 48 of the Act would not arise
US Co. propose to enter into a Share Contribution Deed to
voluntarily contribute its entire 74 percent stake in I Co. to S
Co., without consideration

I Co. is a company in which public is substantially interested and
hence the provisions of Section 56 of the Act were not attracted

TP laws were not applicable in the absence of liability to pay tax

Since income is not chargeable to tax, the question of withholding of
tax does not arise
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
61
Cross Border M&A – Vodafone (Structure Simplified)
SPA for share
sale
HTIL
VIH BV
(Cayman Island)
(Netherlands)
Intermediate
holding cos
HTI Hldgs
(British Virgin Island)
CGP
(Cayman Island)
3GSPL
(India)
Preferred shares
Mauritius Cos
Indian Cos
Options to
acquire
15.03%
51.96%
HEL
(India)
SPA between VIH BV and HTIL
Transfer of shares CGP from HTI (BVI) to VIH BV
Transaction value – USD 11bn (approx)
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
62
Vodafone – Sequence of events
September 2007
Issue of Notice
• Tax authorities issued notice to VIH for failure to withholding tax on payments made to HTIL
October 2007
Writ filed
• Sale of shares of a foreign company between two non-residents - Not taxable in India
December 2008
Bom. HC – writ
petition
• Transaction prima facie taxable in India
January 2009
SC writ
• Tax authorities directed to decide the preliminary issue of “jurisdiction”
January 2009
Tax authorities
action
• Underlying value derived from Indian business; Controlling interest in Indian companies
transferred - Transaction constitutes a transfer of composite rights in HEL
• Indian Tax authorities do not have any jurisdiction
• Constitutional challenge cannot be adjudicated in absence of relevant agreements, etc
• Permitted VIH to challenge Tax authorities on “jurisdiction” directly before HC
• Tax authorities allege failure on part of Vodafone to withhold taxes
• Vodafone approached Bom HC – Bom HC dismissed petition
Sep 2010
• Vodafone filed a petition with the SC
• SC directed Vodafone to discharge tax demand of INR 2,500 Cr
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
63
Cross Border M&A – Recent updates
Key Takeaways / Impact:
 Eligibility of Tax Treaty benefits
 Availability of capital gains tax exemption under the India-Mauritius Tax Treaty
 Applicability of AAR Rulings under pre as well as post DTC regime
 Importance of business considerations / ‘substance’ for transactions in pre as well as post DTC
scenario
 Impact of the rulings on overseas M&A transactions involving step down Indian subsidiaries
 Impact of the ruling in case of Buy-back of Shares
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
64
Answers
Questions
© 2011 KPMG, an Indian Partnership and a member firm of the KPMG network of
©independent
2011 KPMG International
Cooperative
(“KPMG International”),
Swiss entity. Member
firms of the KPMG
network of independent
member
firms affiliated
with KPMGaInternational
Cooperative
(“KPMG
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
International”), a Swiss entity. All rights reserved.
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
65
用語集
FDI
Foreign Direct Investment（外国直接投資）
VAT
Value Added Tax（付加価値税）
FIPB
Foreign Investment Promotion Board（外国投資促進
委員会）
SEZ
Special Economic Zone（経済特区）
LO
Liaison Office（駐在員事務所）
AO
Assessing Officer（税務調査官）
RBI
Reserve Bank of India（インド準備銀行）
TPO
Transfer Price Officer（移転価格調査官）
ROC
Registrar of Companies（企業登記局）
CITA
MOA
Memorandum of Articles（基本定款）
Commissioner Income Tax Appeal（税務下級裁
判所）
AOA
Articles of Association（附属定款）
DRP
Dispute Resolution Panel（紛争解決機構）
PAN
Permanent Account Number（納税番号）
ITAT
Income Tax Tribunal Appeallate（税務高等裁判
所）
TAN
Tax Deduction Number（源泉番号）
FEMA
Foreign Exchange Management Act（外国為替管理
法）
ECB
External Commercial Borrowings（対外商業借入）
MAT
Minimum Alternative Tax（最低代替税）
DDT
Dividend Distribution Tax（配当税）
BCD
Basic Custom Duty（基本関税）
CVD
CounterVailing Duty（相殺関税）
SAD
Special Additional Duty（特別追加関税）
CST
Central Sales Tax（中央販売税）
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
66
タイ日系企業担当メンバー
Head of GJP ASEAN
パートナー日本公認会計士
藤井康秀
1983年にアーサーアンダーセン入所。
日本国内において、会計監査を経験
後、1990年よりシンガポール事務所、
1992年よりクアラルンプール事務所に
勤務。現地の日系企業に対する投資、
会計・税務、法務、人事に関わるコン
サルティングに従事。 1997年より日本
国内での企業買収・合併に係る調査
実務に従事した後、2001年よりバンコ
ク事務所に赴任。
マネジャー
米国公認会計士
宮田一宏
2000年10月に朝日監査法人
（現あずさ監査法人）東京事務
所入所。日本国内において、
主にソフトウェアメーカー、総合
商社等の会計監査及びデュー
デリジェンス業務に従事。
2009年7月よりタイにおける日
系企業支援部隊の一員として
バンコク事務所に赴任。
Tel:+66-2-677-2126
[email protected]
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
パートナー
日本公認会計士
三浦一郎
Tel:+66-2-677-2210
[email protected]
1994年にアーサーアンダーセン入所。日
本国内において、製造業、小売業、その
他の会計監査、各種コンサルティング等
に従事。2000年8月よりタイにおける日
系企業をサポートするためにバンコク事
務所に駐在。2004年8月より日系企業の
サポート体制確立のため、あずさ監査法
人からＫＰＭＧメキシコ事務所に赴任。
2007年10月より監査パートナーとしてバ
ンコク事務所に赴任。
Tel:+66-2-677-2119
[email protected]
マネジャー
米国公認会計士
空谷泰典
マネジャー
日本国税理士
伊藤進
2002年1月に朝日監査法人（現
あずさ監査法人）東京事務所入
所。日本国内において、主に総
合電機メーカー、製薬会社等の
会計監査及びデューデリジェン
ス業務に従事。
2008年7月よりタイにおける日
系企業支援部隊の一員としてバ
ンコク事務所に赴任。
2003年9月KPMG Japan税
務部門（現KPMG税理士法
人）に入所。日本国内におい
て、主に外資系金融機関及び
投資ファンド等における税務コ
ンプライアンス及び、アドバイ
ザリー業務に従事。
2009年7月よりバンコク事務
所税務＆法務部門の一員とし
て赴任。
Tel:+66-2-677-2216
[email protected]
Tel:+66-2-677-2447
[email protected]
67
インド日系企業担当メンバー（セミナー講師のみ）
シニアマネジャー
米国公認会計士
東野泰典
ダイレクター
インド勅許会計士
ラビシンガリ
2001年朝日監査法人東京事務所入
社。日本国内において、製造業、小売
業等の上場会社及び外資系企業の会
計監査業務、M＆Aトランザクション
サービス等に従事。2007年8月から
2010年8月まで日系企業サポートのた
め、あずさ監査法人からメキシコのティ
ファナ事務所に赴任。
2010年10月よりKPMGインドに赴任。
直接税部門のダイレクターであり、
多くの外国・内国企業に対し投資
に際するストラクチャリング、内国
法、外資規制、各国との租税条約、
税務裁判等に関するサービスを提
供する。入所以来数多くの日系企
業をクライアントとし、インドへの進
出支援や税務アドバイザリーに携
わっている。
Tel: +91 124 307 4177
[email protected]
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent
firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to
obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to
obligate or bind any member firm. All rights reserved.
Tel: +91 124 307 4129
[email protected]
68