The next session of the India CFO Forum in Mumbai is scheduled on Tuesday, the 28^th January, 2020 at The Taj Lands End, in Bandra West and I am writing to invite you to join us for the meeting. Breakfast will be served from 7.45 am and the formal session will commence at 8.30 am, going upto 10.00 am.

More than almost anything, taxes have a visible and significant impact on corporate bottom-lines. India has been working to overhaul its Direct Tax Code (DTC) for many years. The previous government was unable to push through its own version of the DTC, a few months ago, a task force under Akhilesh Ranjan submitted a report that will likely set the course for reforms in this area over the next few years. Mr Ranjan, a 1982-batch Indian Revenue Service Officer and an alumnus of St Stephen’s College, Delhi University, was until very recently a Member of the Central Board of Direct Taxation, Ministry of Finance. His insights on the subject are therefore first-hand and highly authoritative.

In this session, Mr Ranjan will provide an overview of the changes that have been effected in the direct tax regime in the last few years and their impact. He will also comment on the challenges and dilemmas facing the Treasury and the decisions it takes to balance these. Some of these include balancing the need for revenue vis-à-vis ensuring a fair distribution of the tax burden; ensuring tax buoyancy while maintaining transparency; deepening versus broadening the tax base; and how to keep India tax-competitive. Equally, Mr Ranjan will provide a view on the possible future direction of tax policy and administration in India.

The discussion will be interactive and will seek to facilitate a constructive dialogue with India’s corporate finance leadership. The meeting promises to be engaging and I hope you would be able to join.