AMCHAM's Breakfast Meeting on “Obama Administration's Tax Proposals and their
impact on US MNCs in India” on June 4 2009 at ACSA, Us Embassy, New Delhi.

In a recent announcement, President Barack Obama proposed international tax legislation which will have far reaching monetary implications for US companies operating overseas.

The US Treasury Department issued a Press Release and a ‘Greenbook’ providing additional details of the changes proposed. Following areas will be affected by the tax proposals:

• Deferral of U.S. expenses related to untaxed foreign income;

• Substantial modification of the US foreign tax credit rules;

• Overhaul of the check-the-box rules; and

• Tax Haven and international enforcement measures.

If enacted, these proposals will raise the tax cost of US-based multinational companies and will lead to restructuring their foreign operations including those in India.

To help understand these proposals in greater detail and their potential impact on the business, Deloitte and AMCHAM India has organized a Breakfast Meeting on-"Obama Administration's Tax Proposals and their impact on US MNCs in India" on 4th June 2009 at ACSA, U.S. Embassy, New Delhi

Mr. Bala Rajaraman, Deloitte US Tax Specialist and Mr. Rohinton Sidhwa, Deloitte India Tax Partner have given presentation to the audiences.