Ficci meet on law and taxation

New Delhi: Ficcis 29th All-India Conference of Corporate Managers and Tax Executives will be held on 17-18 January at Federation House, New Delhi. The two-day conference will discuss issues of current importance in the field of taxation and corporate laws. Besides the inaugural session, there will be four symposiums to discuss issues concerning direct and indirect taxation including corporate laws.

The first symposium will address issues pertaining to customs peak tariff and anomalies in the duty structure. The second symposium will discuss and debate on vital issues connected with the value-added tax. The third symposium will concentrate on issues related to corporate laws and will broadly focus on the Competition Bill, 2001, and the Companies (Amendment) Bill, 2001.  The main focus of the last symposium, which will debate on issues connected with direct taxes, will be on the structure of corporate and personal taxation.

Before the forthcoming Union Budget, FICCI believes this is a good opportunity for corporates to raise the issues through this forum so that the consensus reached in regard thereto could be brought to the notice of the officials of the finance ministry well in time.

The details of various symposiums.

Symposium on customs peak tariff and anomalies in duty structure 

• Discussion on customs peak tariff
• Sectoral analysis regarding anomalies in duty structure.

Symposium on value-added tax

• VAT International scenario
• Rates and classification
• Transaction in inter-state trade
• Refund mechanism through tradable instruments
• Refund of VAT on export transactions
• Incentives already granted to industrial investments 
• Multiple levies.

Symposium on corporate laws 

• Competition Bill, 2001 Critical analysis on the need of the MRTP Act, 1969, and the Competition Bill, 2001
• Analysis of the various aspects of the Companies (Amendment) Bill, 2001.

Symposium on simplification and rationalisation of direct tax laws and procedures

• Structure of corporate taxation Corporate tax rates, minimum alternative tax, tax on distributed profits of domestic companies, research and development, provisions pertaining to VRS and the infrastructure sector

• Procedural simplification Besides other procedural issues, the main focus will be on provisions pertaining to search and seizure, tax deducted at source, monetary limits prescribed under various provisions of the Income Tax Act

• Co-relation between private investment and capital formation Tax aspects

• Tax provisions pertaining to charitable trusts and non-profit making organisations.
  

The conference will be inaugurated by Empowered Committee of State Finance Ministers convenor Dr Ashim Dasgupta at 10.30 am. Senior government representatives, corporate leaders, leading accounting firms, eminent consultants, advocates and heads of taxation and corporate laws of the corporate sector will address the conference.

Revenue secretary Dr S Narayan, department of company affairs secretary V K Dhall, chairmen of Central board of excise and customs and the Central board of direct taxes and senior officials of the ministry of finance and the department of company affairs are also expected to address the conference.

A wide participation of financial and tax experts, leading chartered accountants, advocates, company secretaries, cost accountants and academicians is expected.