NEW DELHI (Reuters) - India is likely to introduce new tax rules aimed at reducing litigation between the government and foreign companies by early September, the revenue secretary at the ministry of finance told reporters on Wednesday.
Known as safe harbour rules, the new regulations will enable tax authorities to accept companies' transfer pricing claims without further scrutiny in some cases.
Global firms have been criticized by governments around the world for avoiding taxes by using transfer pricing, a method of paying for services across borders between different units of a multi-national company.
(Reporting by Rajesh Kumar Singh; Editing by Manoj Kumar)
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