Tuesday , October 14, 2025 |   15:47:30 IST
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI
About Us Contact Us Newsletters
 
NEWS FLASH
 
DTAA -LTCG from grandfathered sales & long-term capital loss from non-grandfathered sales, constitute distinct transactions & separate sources of income; assessee can apply I-T Act or DTAA separately for separate transaction: ITAT (See Breaking News) TP - For purposes of determination of market value of transfer of electricity from eligible unit to non-eligible unit is to be taken at market value at which electricity company charges from consumers: ITAT (See Breaking News) DTAA - Maintenance support services, education & training services, being intrinsically linked to software sold by assessee, the income therefrom cannot be treated as Fees for technical support: ITAT (See Breaking News) TP - If cost allocation Key on 'headcount basis' was duly examined and accepted by TPO to be at ALP in transfer pricing proceedings u/s 92CA(3), same cannot be subjected to retest by AO: ITAT (See Breaking News) I-T - Condonation of delay should not be used as anticipated benefit for government departments and unless department has reasonable and acceptable genuine reason for delay with bona fide efforts: ITAT (See Breaking News) I-T - Merely having Indian address is not sufficient to demonstrate business connection through which activities have been carried on in India and which has led to earning of income: ITAT (See Breaking News) TP - CUP method can be applied in respect of such transactions only, where products of similar nature have been sold to unrelated parties, within same month & same country: ITAT (See Breaking News) TP - If NIC Codes, functional filter, and profit margin of two companies are different, then they cannot be taken as comparables for purpose of calculating ALP: ITAT (See Breaking News) I-T - Receipts earned by way of subscription towards provision of software-based information security solutions are business profits, not chargeable to tax in India in absence of PE: ITAT (See Breaking News) TP - Captive service provider rendering services on cost-plus basis to its AE, can be compared to multi dimensional entity having huge brand value: ITAT (See Breaking News) TP - Existence of 'arrangement' is condition precedent to trigger Sec 80IA(10) and in its absence, business transacted between eligible units and its AE are not covered within Specified Domestic Transactions u/s 92BA: ITAT (See Breaking News) TP - Mere assertion of adoption of 'other method' under Rule 10AB is not sufficient for valid transfer pricing adjustment: ITAT (See Breaking News) I-T-Re-assessment not tenable where based on incomplete assessment of submitted documents & where no evidence is submitted to prove inadequate creditworthiness or that transaction was not genuine: ITAT (See Breaking News) TP - Deduction is available for reversal of provision of doubtful debts which was created and offered to tax during earlier assessment years: ITAT (See Breaking News) DTAA - Health & Education Cess cannot be levied on tax determined under DTAA, as tax rate under DTAA is fixed & cannot be further increased by Cess or surcharge: ITAT (See Breaking News) I-T- If provision for doubtful debts was reduced by corresponding amount from gross trade receivables on asset side, same will amount to write off which is not hit by clause (i) of the Explanation (I) to Sec 115JB: ITAT (See Breaking News) TP - If loss of electricity Board is affected by extraordinary circumstances which are not in existence in close distribution environment, then standard loss prevailing in industry shall be taken as benchmark: ITAT (See Breaking News) I-T - DDT is paid by domestic company resident in India, and it is tax on its income and not tax paid on behalf of shareholder, hence domestic company u/s 115O does not enter domain of DTAA at all: ITAT (See Breaking News) International tax beyond Donald Trump (See TII Edit)
 
TII SEARCH
 
 
   
Home >> News Brief
 

WTO chief calls for urgency in vaccine access
By TII News Service
May 06, 2021 , Washington

    

THE World Trade Organisation (WTO) on Wednesday said its members must respond urgently to the need for a multilateral solution to ensure equitable access to COVID-19 vaccines, calling it a "moral and economic issue of our time."

Addressing the General Council of the WTO where the issue of Intellectual Property (IP) waiver and access to essential COVID-19 medicines and medical equipment was discussed, Director-General Ms Ngozi Okonjo-Iweala stressed that how the organisation handles the matter is "critical."

"We need to have a sense of urgency on how we approach this issue of response to COVID-19 because the world is watching," she said. "Vaccine policy is economic policy because the global economic recovery cannot be sustained unless we find a way to get equitable access to vaccines, therapeutics, and diagnostics."

WTO members agreed to allow the Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) to continue consideration of the waiver first put forward by India and South Africa on IP obligations regarding COVID-19 vaccines, therapeutics and medicines.

Over 40 delegations took the floor at the General Council under this agenda item with members expressing different views. Supporters said the current challenges posed by the pandemic can only be effectively addressed by waiving certain TRIPS obligations. Other delegations remained unconvinced about the necessity for a waiver at the international level, with some members arguing that a waiver might undermine ongoing collaborative efforts.

Ms Okonjo-Iweala welcomed the news that the proponents of the TRIPS waiver were planning to submit a revised text in a bid to reconcile positions. They requested the chair of the TRIPS Council to consider holding an open meeting open in the second half of May to discuss the revisions before the next formal meeting scheduled for early June.

"I am firmly convinced that once we can sit down with an actual text in front of us, we shall find a pragmatic way forward, acceptable to all sides that allow the kinds of answers that our developing country members are looking at with respect to vaccines, whilst at the same time looking at research and innovation and how to protect them," said the DG.

The TRIPS waiver proposal was initially submitted by South Africa and India and has since been co-sponsored by Kenya, Eswatini, Mozambique, Pakistan, Bolivia, Venezuela, Mongolia, Zimbabwe, Egypt, the African Group, the Least Developed Countries (LDC) Group, and most recently Maldives, Fiji and Namibia — a total of 60 WTO members.

 
 
INTL TAXATION INTL MISC TP FDI LIBRARY VISA BIPA NRI TII
  • DTAA
  • Circulars (I-T Act, 1922)
  • Limited Treaties
  • Other Treaties
  • TIEAs
  • Notifications
  • Circulars
  • Relevant Sections of I-T Rules,1962
  • Instructions
  • Administrative Orders
  • DRP Panel
  • I-T Act, 1961
  • MLI
  • Relevant Portion of I-T Act,1922
  • GAAR
  • MAP
  • OECD Conventions
  • Draft Guidelines
  • DTC Bill
  • Committee Reports
  • FATCA
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • UN Model Taxation
  • Miscellaneous
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • APA Annual Report
  • APA Rules
  • Miscellaneous
  • Relevant Sections of Act
  • Instructions
  • Circulars
  • Notifications
  • Draft Notifications
  • Forms
  • TP Rules
  • APA FAQ
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • FDI Circulars
  • RBI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • FEO Act
  • INTELLECTUAL PROPERTY
  • CBR Act
  • NBFC Report
  • Black Money Act
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • Multimodal Transportation
  • Vienna Convention
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • MCA Circular
  • Limitation Act
  • Type of Visa
  • SSAs
  • EPFO
  • Acts
  • FAQs
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifications
  • Arbitration
  • Model Text
  • Agreements
  • Relevant Portion of I-T Act
  • I-T Rules, 1962
  • Circulars
  • MISC
  • Notification
  • About Us
  • Contact Us
  •  
     
    A Taxindiaonline Website. Copyright © 2010-2025 | Privacy Policy | Taxindiainternational.com Pvt. Ltd. OPC All rights reserved.