United States: Making Sense Of The Cairn Energy-Indian Government Tax Dispute

The last week began with the news of Cairn Energy filing a notice for settlement of disputes with the Indian government under the Agreement for Promotion and Protection of Investments between UK and India. The dispute stems from a tax demand in an amount of $1.6 billion raised by the Indian Income Tax Department on Cairn Energy. The basis of the tax demand is an alleged capital gain made when Cairn Energy transferred its […]

By |March 26th, 2015|

Cayman Islands: FATCA Reporting Update

FATCA Reporting Portal Open
On 19 March 2015, the Cayman Islands Tax Information Authority (“TIA”) launched its online portal for the automatic exchange of tax information (the “AEOI Portal”), which can be accessed from TIA’s website (www.tia.gov.ky).
AEOI Portal User Guide
A user guide to the AEOI Portal is available on TIA’s website and is accessed by clicking on “AEOI News & Updates”.
Reporting FIs to Register with TIA by 30 April 2015
Reporting Cayman Islands Financial Institutions (“Reporting […]

By |March 26th, 2015|

UK: Potential Implications Of The Indian Government Tax Dispute With Cairn Energy

Earlier this month, Cairn Energy filed a notice for settlement of disputes with the Indian government under the Agreement for Promotion and Protection of Investments between the UK and India. The dispute stems from a tax demand of $1.6 billion raised by the Indian Income Tax Department on Cairn Energy.

The basis of the tax demand is an alleged capital gain made when Cairn Energy transferred its Indian business to a newly incorporated Indian entity […]

By |March 25th, 2015|