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Jul 14, 2018
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Significant Economic Presence: CBDT invites suggestions on ‘revenue/user’ cap for NRIs
Taking the next step in the ‘Significant Economic Presence’ (SEP) concept, the Central Board of Direct Taxes (CBDT) has invited suggestions on the quantum of ‘revenue’ and ‘user’ thresholds that need to be prescribed for determining the SEP of a non-resident in India. The suggested thresholds and comments should be electronically sent by August 10, the CBDT has said. It may be recalled that the concept of SEP was introduced by the Finance Act 2018, for taxation of non- residents in India by amplifying the scope of the definition of “business connection”.
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