AMCHAM Tax, Tariff and Regulatory Affairs Committee Meeting in Bangalore, December 16, 2011

This meeting was held at the Taj Vivanta, Bangalore, and chaired by Mr. Ajay Kumar, Executive Director, PwC, Delhi, and chairman of the AMCHAM Tax, Tariff and Regulatory Affairs Committee. The main topics of discussion were the (1) Major Transfer Pricing Challenges and (2) Budget 2012 Recommendations.

Mr. Indraneel Chaudhury, Executive Director, PwC, welcomed the participants. Finance heads from companies including Honeywell, 3M, Mphasis, Novell, Timken, Cypress Technologies, AMD, Dover, Herbalife, First American, Sungard, etc. were present.

Mr. Rakesh Mishra, PwC, gave the first presentation on Transfer Pricing; Mr. Kaushik Mukerjee, Executive Director, Tax and Regulatory Services, PwC, gave a presentation on “Cross Border Transactions”; and Mr. Vikram Bapat, Executive Director, Tax and Regulatory Services, gave a presentation on “Special Economic Zones.”

An enthusiastic interactive session followed with participants giving valuable suggestions for Budget 2012 as well as voicing the major challenges they face.