With this development - the world as a whole is developing as each country is able to focus on their strength areas and share their expertise with clients across the globe. This has increased the cross border transactions manifold. Cross border transactions refers to any transaction or transfer of any goods, services or even property between individuals or entities living in different countries/ jurisdictions.

We are all aware that all countries are able to manage the functionality of the countries on the basis of income collection of the country. Each country has its own sets of legal and tax regulations for the smooth functioning of the country . In the Cross Border Transactions - two or more jurisdictions are involved and hence it is highly important to consider the legal and tax regulations of all the jurisdictions involved . It is important to ensure that neither any income is doubly taxed nor any income has escaped being offered for tax purposes. Cross Border Taxation refers to the set of rules, provisions and regulations which govern the international transactions. Whether you are an Individual or an organization involved in international transaction - it is important for you to connect with a Financial Advisor for discussing at length the Tax Implications of these Cross Border Transactions who would advise after taking into account various aspects, regulations, provisions and treaties like Double Taxation Avoidance Agreement, Provisions of Withholding tax, Transfer Pricing and VAT to name a few

Any failure to properly take the account of the same will result into Penalty, Fine, Tax Litigation, and Reputational Loss to the concerned taxpayer.

Our team of Professionals at Visak assists our clients both Corporate and Non-Corporate to properly understand, plan and comply with all the regulations of cross border taxation . We assist our clients in Tax Planning, compliances, filings, litigations and representing them before the tax authorities in both Domestic, International, and Cross Border Transactions.

This Article is a Knowledge-sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of the preparation. In no event, VFSL or the Author or any other persons be liable for any direct and indirect result from this Article or any inadvertent omission of the provisions, update, etc. if any. Decisions must be taken only after thorough consultation with our Advisors .