IT survey on BBC: Discrepancies, inconsistencies found in transfer pricing documentation, says CBDT
BBC offices
Indian Income Tax department said on Friday that it found "irregularities in tax payments" during the recently conducted survey at the offices of a prominent international media company in New Delhi and Mumbai. The statement comes in the backdrop ofa three-day search of BBC offices in Mumbai and New Delhi, which concluded on Thursday.News agencies have mentioned that the officials said the statement pertains to the British Broadcasting Corporation (BBC).
In theofficial statement, the Central Board of Direct Taxes (CBDT) said that the income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India.
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Without naming the organisation, CBDT said that the media group is engaged in the business of development of content in English, Hindi and various other Indian languages; advertisement sales and market support services, etc.
The statement mentioned that the authorities have gathered several pieces of evidence about the operation of the organisation which indicate that "tax has not been paid on certain remittances" which have not been disclosed as income in India by the foreign entities of the group.
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The CBDT further mentioned, "The survey operations also revealed that services of seconded employees have been utilised for which reimbursement has been made by the Indian entity to the foreign entity concerned."
The statement also noted that the survey has revealed several discrepancies and inconsistencies with regard to transfer pricing documentation and such discrepancies relate to the level of relevant Function, Asset and Risk (FAR) analysis, incorrect use of comparables which are applicable to determine the correct Arms Length Price (ALP) and inadequate revenue apportionment, among others.
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