MVKini is pre-eminent in taxation law, specialising in both direct and indirect taxation. Our dynamic team of tax professionals are equipped with advising clients on both direct and indirect tax issues. MV Kini has in-depth experience advising on domestic as well as cross border taxation, tax efficient structures, supporting clients in their tax compliance issues as well as defending clients’ interests before various tax authorities, tribunals and courts including all State High Courts and the Supreme Court of India. The team maintains complete transparency and upmost of integrity in upholding MV Kini’s high ethical standards.
The tax teams across Mumbai, Bangalore, Delhi & Pune include experienced lawyers and chartered accountants well versed with all the tax issues faced by corporates during the normal course of business.
All are experienced to advise on the best way to mitigate risks and resolve any issues. We also advise start-up ventures on their cross-border direct tax structuring issues as well as domestic tax structuring.
Key practice areas
TAX AND INTERNATIONAL TRADE
MV Kini provides corporate tax due diligence, reviewing the effectiveness of a company’s tax position and advising on appropriate steps where there are gaps. MVKini regularly gives an opinion on a company’s tax position;
MV Kini is highly experienced in advising on potential tax liability implications. It regularly advises on the terms and structure of supply and services contracts. The team prepares customs and excise refund claims and support in any connected litigation;
MVKini has substantial experience when working with clients who are negotiating within a Free Trade Agreement (FTA). MV Kini is adept at evaluating multiple FTAs, judging suitability for a client’s Indian operations. This includes analysing the rules of origin, among other often-onerous conditions and certifications, imposed on imports/exports under various FTAs. MV Kini also advises on effective customs duty rates for goods imported under various FTAs.
LITIGATION SUPPORT
MV Kini’s litigation team gives swift assistance in drafting replies to various show cause notices, appeals and writ petitions before the concerned assessing officers, authorities, commissioners, and the various judicial authorities and courts. MV Kini assisted its client(s) with regard to anti-dumping and safeguard duties.
Senior members of the tax team appear in various High Courts and Tax Tribunals across India and successfully handled complex tax litigation.
Representation Services
The tax team skillfully represents its clients before various authorities and commissioners on multi- dimensional issues that impact the client’s business. Highly experienced personnel represent clients before the Board of Approval, or Unit Approval Committee for Special Economic Zones, Export Oriented Units and STPI Units.
MV Kini also takes part in various debates regarding which goods and services should be included under a proposed, or subsisting, FTA.
TRANSFER PRICING (TP)
MVKini offers its legal opinion on specific issues related to transactions with associated enterprises (AE). The team adeptly highlights the possible risks associated with that contract, taking its entire structure into account. The team prepares incisive support documentation for TP assessments and the review of contracts executed, or likely to be executed, with AEs to highlight any potential TP risk.
Litigation Support
MV Kini’s litigation team gives clients a turnkey service to obtain advance rulings. It advises clients and supports them during disputes at AO level for TP Assessments and at ITAT level and various High Courts in India.
Key transactions
Highlights of MVKini’s taxation experience includes:
The team has numerous reported judgments to its credit, including the rulings of various
tribunal benches across India. It has successfully secured refunds and rebates for large Indian
companies and MNCs.
Some of the companies that the tax team has worked with include leading public and private
sectors in various sectors including
Automotive: Audi AG, Volkswagen AG, Skoda Auto & Mahindra & Mahindra
Aviation: Air India, IATA, Qatar Airways
Banking & Finance: Most of the large PSU Banks
Chemicals: 3M India, Dow Chemicals, Lanxess Chemicals, Rohm & Haas
Consumer Goods: General Mills, Diageo India, Panasonic, Anchor and Durian.
Education : Tata Interactive
Healthcare: Biersdorf AG, BSN Medical
IT & ITES : Lenovo Systems, HCL Technology, Geometric
Retail : Heritage Retail, Hypercity
EPC:EPC: Technimont ICB, ETA Engg, Voltas, Petron Engg, Swastik Lloyds
Media : Shree Ashtavinayak Cinevision
Real Estate: Prithvi Builders, Maxus Malls
TAX AND INTERNATIONAL TRADE
Our international tax practice includes a wide range of areas such as:
Tax issues pertaining to treaty (DTAA) interpretation such as permanent establishment concerns, tax residency concerns, withholding tax concerns etc.
- Structuring cross border mergers and acquisitions
- Inbound/Outbound Investment structuring
- Feasible India entry options and exit strategies
- Profit repatriation strategies
- Transfer Pricing advisory and documentation
- Other issues under direct tax laws advisory and litigation
INDIRECT TAX
Our tax professionals also advise clients across a wide spectrum of indirect tax issues covering excise, customs, service tax and GST laws. We also provide representation services in various litigation matters pertaining to indirect taxes. Our firm has advised a global corporate group in advising on anti-dumping levy.
We also represented domestic trade associations before statutory authorities in a case pertaining to levy of safeguard duties in India.
LITIGATION SERVICES
Our Firm has successfully represented various private as well as public sector clients before various tax authorities, appellate tribunals and High Court. Some of the major clients whom our firm has epresented in litigation include UPS JetAir, 3M India, Mazagon Docks Shipbuilders Ltd, National Highways Authority of India, Nuclear Power Corporation of India, BEST Undertaking etc. Our lawyers play a leading role in assisting clients in devising strategies in tax litigations and engaging with senior counsels wherever required.
MERGERS & ACQUISITIONS (M&A)
Our Firm advises on complex legal issues in both domestic as well as cross border M&A transactions in a most efficient and cost effective manner. We regularly advise on both the buy and sell sides and work closely with in-house counsels, investment banks and accounting firms to achieve seamless implementation of any M&A transaction.
MV Kini handles a full range of M&A transactions including acquisitions and divestment of shares, assets and businesses (by private, public and listed entities); schemes of arrangement, mergers, demergers, and amalgamations; leveraged buy-outs; sale and purchase of distressed assets; and restructuring, including capital and debt restructuring, buy-back of securities, and reduction of capital.
FOREIGN EXCHANGE REGULATIONS
The foreign exchange regulations have been liberalized over the years to facilitate the remittance of funds both in and out of India. The changes have been introduced on a continuous basis in line with the government policy of economic liberalization. Still, in few cases, specific approvals are required from the regulatory authorities for foreign exchange transactions/remittances. FEMA is not only applicable to all parts of India but is also applicable to all branches, offices and set-ups outside India which are owned or controlled by a person resident in India. It also applies to all branches, offices and set-ups in India which are controlled or owned by person resident outside India. FEMA also impacts foreign nationals who are working in India or outside.
- In this respect, our key services offerings include:
- Assistance in setting up a branch office, liaison office and project office of the foreign company in India and advising on the approaches required in that matter.
- Advise on transactions which have a foreign exchange aspect.
- Carry out regulatory due diligence and liasoning for government approvals.
Key People Prateek Goyal