Signature Lecture Series: Insights from the Prism of Global Tax Arena with Ms. Kate Barton, Global Vice Chair – Tax, EY – 16th October 2019

On October 16th, as part of its Signature Lecture Series, AMCHAM organized a roundtable interaction on ‘Insights From the Prism of Global Tax Arena’ with Ms. Kate Barton, Global Vice Chair – Tax, EY. The session began with a warm welcome by Ms. Surabhi Wahal, Regional Director – Western Region, AMCHAM, followed by remarks by Mr. Viral Damania, CFO, Bank of America N.A. Through an insightful dialogue and a presentation, the keynote speaker Ms. Kate Barton shed light on U.S. tax reforms with a focus on key global tax developments. She highlighted the changing U.S. tax regime and the global impact on businesses, BEPS 2.0 and putting Tax 2.0 to work in a transformative age. This was followed by session on potential opportunities and implications of the corporate tax reduction in India by Mr. Sudhir Kapadia, Partner & National Tax Leader, EY India. Mr. Kapadia shared a brief overview of the economic landscape – globally as well as of India and the impact on investments post the tax rate cut. An engaging Q&A followed. The event concluded with closing remarks and a vote of thanks by Mr. Srinivas Krishnan, Managing Director – South Asia, Crown Worldwide Pvt. Ltd.

Supply Chain & Logistics Committee Meeting – 15th October 2019

A meeting of AMCHAM’s Supply Chain and Logistics Committee was held on October 15th in Mumbai. The meeting commenced with opening remarks by Ms. Surabhi Wahal, Regional Director – Western Region, AMCHAM, followed by a brief welcome address by Mr. Kumar Kandaswami, Chairman – Supply Chain & Logistics Committee, AMCHAM and Partner, Deloitte Touche Tohmatsu India LLP. As part of the agenda, members planned the course of action for forthcoming events, set timelines and brainstormed on topics and initiatives of the committee.

Signature Lecture Series: Insights on Advance Pricing Agreement (APA) Programs in India and the U.S. with Mr. Steven Wrappe, National Technical Leader, Transfer Pricing, Grant Thornton U.S. – 14th October 2019

Multinational Companies doing business in India have, for years, faced extraordinary levels of transfer pricing litigation and controversies regarding cross border transactions between related parties. India’s tax administration launched an APA program in 2012 which has till date concluded 297 APAs, including 32 bilateral APAs with taxpayers from multiple industries. AMCHAM India organized an interactive technical session on ‘Insights on Advance Pricing Agreement (APA) programmes in India and the U.S.’ under AMCHAM’s Signature Lecture Series on October 14th in New Delhi. The guest speaker was Mr. Steven Wrappe, National Technical Head, Transfer Pricing, Grant Thornton U.S. The session was attended by 13 AMCHAM member companies.

Session on D&I – Demographic, Cultural & Generational Challenges – 11 October 2019

AMCHAM’s Hyderabad Chapter organized a session on ‘D&I – Demographic, Cultural & Generational Challenges’ on October 11th in Hyderabad. The meeting began with Mr. Prakash Bodla, Executive Director, Carrier HRDC, the moderator for the session, introducing panellists. The session began with Ms. Rajita Singh, Head HR, Broadridge, speaking on the demographic challenges followed by Mr. Tanay Kediyal, VP, Wells Fargo, speaking on cultural challenges while Ms. Kiranmai Pendyala, Site Director, ICE, touched on generational challenges. Though D&I commonly refers to the gender perspective, with the expanding workforce bringing in diverse groups, cultures and people of various ages, there is a generational gap that exists between the newer entrants and the existing ones. The panel discussed how policy making is not enough. The panel discussion was followed by Q&A with the audience.

Interaction with Senator Ted Cruz (R-TX) – 11th October 2019

AMCHAM organized an interaction with Senator Ted Cruz in New Delhi on October 11th. Senator Cruz was on a multi country tour in Asia to visit the friends and allies of the U.S. surrounding China. Mr. Matt Ingeneri, Economic Growth Unit Chief, U.S. Embassy, introduced the Senator and made opening remarks. Participants introduced themselves and their companies. Mr. Phil Shaw, Chairman, AMCHAM, gave an overview of the U.S.-India defense partnership and the significant gains over the years.

The discussion touched on various aspects of the U.S.-India partnership including, defense, energy, ICT and cyber security. Data localization, fintech, renewable energy, tax and regulatory reforms, state government challenges and areas of concern in the partnership were discussed. Ms. Ranjana Khanna, Director General CEO, AMCHAM and Ms. Ambika Sharma, Managing Director, India, USIBC, made closing remarks. The Senator was accompanied by his staff, Ms. Samantha Leahy, Senior Legislative Assistant, Mr. Garrett Exner, Military Legislative Assistant and Mr. David Engelman, Army Legislative Assistant.

Defense Committee Meeting with Dr. Ajay Kumar, Defence Secretary, Government of India – 11 October 2019

AMCHAM’s Defense Committee called upon Dr. Ajay Kumar, Defence Secretary, Government of India on October 11th in New Delhi. Ms. Dipti Mohil Chawla, Joint Secretary and Acquisition Manager (LS) and Maj Gen HS Shanbhag, Technical Manager (LS), were also present in the discussions. Industry participants included Mr. Nik Khanna, Co-Chairman – Defense Committee, AMCHAM and Managing Director, India, BAE Systems, Mr. Gaurav Mehndiratta, Co-Chairman – Defense Committee, AMCHAM and Partner and Head – North India, Corporate & International Tax, KPMG India, Mr. William Blair, Vice President and Chief Executive, Lockheed Martin India Pvt. Ltd. and Mr. Sanjeev Kakkar, Director – Business Development, GE Aviation. From the U.S. Embassy, Capt.

Daniel Fillion, Honorary USG Chair – Defense Committee and Chief, Office of Defense Cooperation, U.S. Embassy, joined the meeting. From the secretariat Ms. Ranjana Khanna, Director General CEO, AMCHAM India and Ms. Udaya Arun, Director – Aerospace & Defense, AMCHAM were present. Ms. Ranjana Khanna opened the meeting by thanking Dr. Kumar for his leadership roles and steered the discussions towards aligning AMCHAM activities and submissions towards the government’s vision. Dr. Kumar briefly discussed meetings between the U.S. Governemnt and Government of India and advised on preparation of agenda for submissions to the government.