Key expectation from Transfer Pricing (‘TP’) perspective amidst the economic vision of the new government

The Annual Budget 2024 will be presented in the Monsoon Session of Parliament. The Annual Budget 2024 is expected to build upon the principles of "Reform, Perform, and Transform." It is most likely that the finance minister would declare India's commitment to 'Pillar 2', aiming to implement a global minimum effective corporate tax rate of 15%. The initiative of the Organization for Economic Cooperation and Development (OECD), supported by the G201 targets the multinational enterprise groups with annual consolidated revenues of at least 750 million euros.