MNcs News

He hoped that this year`s theme of "Environmental and Climate Literacy" would help in creating awareness about protecting nature and natural resources.  

President Pranab Mukherjee on Friday underscored the need for India to be a global powerhouse not just in terms of economic parameters but also 'Gross National Happiness'.

Income Tax Department has identified 4,000-5,000 foreign companies based in this megapolis that are not paying taxes on time, including due to tax disputes, and expects to soon recover from them dues totalling nearly Rs 8,000 crore.

Multinational companies (MNCs) beat Indian firms as preferred place to work, as nearly 88 percent employees working with domestic firms, if offered a choice, would like to switch to international organisations, says a survey.

Finance Minister Arun Jaitley is likely to introduce the threshold to establish whether a overseas company has substantial business interest in India.

Multinational companies operating in India will soon have to disclose details of their operations at the country of residence and their revenue income to the Income Tax authorities.

A second French suspect was charged Friday with theft and money-laundering in ongoing investigations into the leaking of secret tax avoidance deals between Luxembourg and multinational companies, a scandal dubbed Luxleaks.

The British government Wednesday slapped a new tax rate on multinational companies that seek to avoid paying their fair share to Treasury coffers.

Multi-national firms have invested nearly Rs 2,500 crore in under three years to buy office space in India as against leasing it, property consultant Cushman & Wakefield said.

Luxembourg is used by many multinationals including online retailer Amazon, building equipment maker Caterpillar and UK mobile telecoms group Vodafone.