Edited Books

International Taxation in the Digital Era, Oakbridge Publishers, New Delhi, 2020.

International Taxation in the Digital Era comprises a selection of research papers presented at ITRAF’s annual conference in 2019. Contributed by authors from academia and practicing tax professionals, the volume is divided into two parts focusing on the digital economy, its form and taxation; and taxation of capital and its avoidance.

In the first part, The volume explores the concept of digital economy, analyses the existing practices and issues of taxation of digital economy, and includes recommendations to effectively address the challenges relating to taxation posed by emerging technologies.

In the second part, The contributors delve into the myriad facets of taxation of capital including the implications of India’s General anti-avoidance rules (GAAR), capital gains tax in the post BEPS era, the place of effective management (POEM), and the legislative over-activism experienced in India. Readers across jurisdictions will benefit from the cross-country experience on the subject of tax avoidance that is delineated in the volume. Angel tax as an investment disincentive in India has been examined in detail along with its consequences for start-up entities. The volume closes with a detailed discussion on the underlying shifts in international taxation with a view to finding a solution to taxation issues across nations owing to the fast-paced changes in the economies driven by technological advancements.

With the pivotal role that Action 1 of the OECD BEPS project is assuming today in the international taxation scenario, this volume provides an insight into the lacunae in the prevailing systems in taxing digital economy, the possible solutions to move forward keeping in view concerns arising from the likely conflict in the domestic law and internationally agreed principles. A global accord on the subject may prove to be difficult, but it may be the solution that will endure.

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Virtus in Arduis : I Did It My Way, Orient BlackSwan, Delhi, 2018.

A memoire is a reflection on past events etched in memory. In Virtus in Arduis, Parthasarathi Shome—popularly regarded as ‘India’s Taxman’ and internationally known as a ‘Taxation Rock Star’—looks back on the course of his professional growth to bring to the interested reader an account of exceptional brilliance, integrity and perseverance, combined with a thirst for challenge, and, in simple words, to recount how ‘Partho Shome came from there to here’.
As one who has travelled to some forty countries as fiscal adviser to governments and academic research, and to as many more out of plain curiosity, Shome’s is a life driven by constant change and variety, and one rich in experience, personal and professional. Fluent in Spanish, he has been part of global policymaking at the International Monetary Fund as Chief of Tax Policy, been Adviser (Minister of State level) to former finance minister P. Chidambaram, and Chief Economist for Her Majesty’s Revenue and Customs, UK Government.
As an economist who has published in top-notch international journals and authored several books, taught and researched extensively in India and abroad, a practitioner who has investigated many a tax law and its subordinate legislation, and a tax administrator who has implemented tax law in the field, Shome’s insights, interspersed with glimpses of the manifold challenges he faced and some lighter moments of that experience, are extraordinary.
While he focuses primarily on his career graph and academic life, allusions to the personal side—delightful, wry, poignant: remembering vital lessons learnt in childhood, his love for Latin America, his trip to Okavango River Delta, visiting his ancestral home in Bangladesh, and many more—make this memoire a fascinating and engaging read.

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Challenges in Domestic and International Taxation: Emerging India Experience, OakBridge Publishers, New Delhi, 2018.

Book launch of ITRAF’s third title, Challenges in Domestic and International Taxation: Emerging India Experience, edited by Dr. Parthasarathi Shome and with a Foreword by Philip Baker, QC, from OakBridge Publishers, New Delhi, at the TaxSutra Conclave, 12 October 2018.
The book was launched amidst an audience of over 200 delegates. The book was unveiled by Mr. N Venkataraman, Senior Advocate, Mr. Ajay Vohra, Senior Advocate, Mr. Amarjeet Singh, KPMG India, Mr P V Srinivasan, PVS Advisors, and Saurabh Bhattacharya, PWC. Arun Giri, Ameya Kunte and Vijay Chand from TaxSutra, Shreesh Chandra and Vikesh Dhyani from Oakbridge also joined the dignitaries on the dais and participated in the unveiling of the book. The first copy of the unveiled book was presented by Arun to Grace Perez Navarro, OECD. Arun and Shreesh spoke about the high quality research and analytical papers contained in the book and Arun read out the chapter headings for the audience to get an impression of the topics the book contained. Dr Shome was missed and, despite his instruction to not make a mention, everyone present wished him on his Birthday from the launch platform.

( Available at :  amazon.in, oakbridge )

Development and Taxation: 60 Critical Commentaries, Academic Foundation, New Delhi, 2017.

This volume is a collection of selected critical commentaries on various aspects of the Indian and global economies. The author has used a mix of verbal and graphical tools, comprising his thoughts on economic, political economy and social challenges and incorporating analysis, conclusions, and recommendations on those issues. The articles address macroeconomic concerns including the estimation of GDP, savings and growth, inflation and interest rates, financial markets, demonitisation of the currency, land acquisition, and others. They analyse fiscal policy and taxation matters including tax evasion and corruption, and the struggle to improve the ease of doing business. Emerging international economic relations including United Kingdom’s leaving the European Union and India’s economic and strategic relations with Japan, China, Latin America, and, last but not least, with Pakistan, are addressed. Issues emerging from the Group of 20 Nations (G20) are not ignored. On socio-economic aspects, India’s challenges and failures in designing and implementing a range of socio-economic policies are addressed. Health and palliative care, cleaning up India, quality deterioration in the Indian Railways, and the failure to educate Indian youth, are taken up. A selection of essays with political economy and socio-historical perspectives concludes with a final philosophical note-that thoughts can comprise ideas, thus summing up, as it were, the overall stance in the narrative of the included commentaries.

( Available at :  amazon.in, bulkbookstore )

Base Erosion and Profit Shifting (BEPS): The Global Taxation Agenda, International Tax Research and Analysis Foundation (ITRAF), Wolters Kluwer, Bangalore, 2016.

In the wake of the 2008 global financial, turned economic, crisis, the Group of 20 (G20) nations took up a macroeconomic agenda and, as the world economy stabilized, they initiated a development agenda. Subsequent to the appearance of the development agenda, the G20 took up a taxation agenda while responding to the Organisation of Economic Cooperation and Development (OECD)’s proposal, in effect, to carry out the task. This book focuses on the G20’s taxation agenda. It addresses international taxation issues arising from the recommendations of the Base Erosion and Profit Shifting project carried out by the Organisation of Economic Cooperation and Development (OECD) at the behest of the G20. The volume comprises chapters authored by tax economist academicians as well as practitioners-barristers, accounting professionals, tax administrators and practicing policy economists.

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Insights into Evolving Issues of Taxation: Existing and Continuing Challenges, International Tax Research and Analysis Foundation (ITRAF), Wolters Kluwer, Bangalore, 2016.

 In an emerging economy as large as India with its own complexities that often emerge from the very nature of its tax policy structure and rudimentary administration, tax reform remains a constant challenge. Dr. Parthasarathi Shome, Chairman, International Tax Research and Analysis Foundation (ITRAF), Bengaluru, India, and Member of the Board, Comptroller & Auditor General (CAG) India brought together various scholars from the tax profession and tax administration to debate each issue from either side. At present there are many issues in direct and indirect taxes that are on the Indian Government’s plate awaiting discussion, resolution and implementation. This brings together a selection of such issues that are on the forefront of professional concern and are drawing the attention of the tax authorities that require their immediate attention. This book provides the grist and the flavor of a selection of crucial prevailing matters.

( Available at :  amazon.in, cchindiastore )

The G20 Development Agenda: An Indian Perspective, Cambridge University Press, New Delhi, 2015

Since its initiation of the financial sector reforms through a newly established global cooperation process in the post-2008 financial and economic crises, the G20 expanded its agenda to include development pillars as the global economy began to recover in 2010. It actively extended its attention to the recycling of surplus country savings for investment in infrastructure in deficit countries, to the achievement of global food and energy security, to addressing the growing financialisation of commodities and its impact on price volatility, and to the costs and benefits as well as the intent and impact of continuing energy subsidies. It began to focus on recent global initiatives on climate change and adaptation financing with global equity and economic efficiency in mind. This volume addresses such issues in the G20’s development agenda and assesses their relative successes and failures, with a particular focus on how the issues are of relevance to India.

Focuses on several major development themes in the G20’s agenda

Brings together selected development concerns, touching upon component aspects

Discusses recent global initiatives on climate change and adaptation financing with global equity and economic efficiency

 (Available at :  amazon.in, cambridge )

Taxation Principles and Applications: A Compendium, Lexis Nexis, New Delhi, 2014.

The Compendium lucidly discusses the role of tax policy in economic development with particular reference to Africa, East, North and South Asia, Europe, Latin AmeriCa and North AmeriCa. Difficult concepts such as “incidence” and “distribution” effects of taxation are argued profoundly with empirical evidence. Efficiency and equity effects of personal and corporate income tax are explored with discerning analysis, yet with remarkable ease. Various effects of consumption taxes such as the VAT including efficiency, distribution and administrative ramifications are examined closely by reference to individual countries. Innovative taxes such as environmental taxes, cash-flow tax, a minimum tax on business, financial transactions tax and others are subjected to insightful analysis.The crucial role of tax administration in implementing tax policy effectively is considered in the most percipient manner. Last, but not the least, the section – Country and Regional Experiences – makes it the most integrated literature on the subject of the economics of taxation.

Details on Compendium.

( Available at :  amazon.in, lexisnexis )

Tax Administration Reform in India: Spirit, Purpose and Empowerment (6 Volumes), Report of the Tax Administration Reform Commission (TARC), Ministry of Finance, New Delhi, 2014.

The G20 Macroeconomic Agenda: India and the Emerging Economies,Cambridge University Press, New Delhi, 2014.

As the premier forum for global economic governance, G20 was successful in warding off the global economic crisis of 2008–09 and preventing it from becoming a full-blown depression. This book assesses the progress of the G20 with a focus on India. It discusses the role India has played in the success of the G20 process and, more importantly, delineates the possible barriers to India’s enhanced involvement in the G20, and in global governance in general. As the global economy remains mired in uncertainties – stemming from the Euro crisis, lacklustre economic performance in the United States, and slowing of major emerging economies – this volume fills the need for a collection of analytical research papers from the perspective of emerging economies, and takes stock of the performance of the G20 thus far. It also points towards the unresolved issues and the future course of action in global financial and macroeconomic stance.

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Indian Tax Administration : A Dialogue,Orient BlackSwan, New Delhi, 2013
Tax Shastra: Administrative Reforms in India, United Kingdom and Brazil,Business Standard Book, New Delhi, 2012.
   
Korea-India: Deepening Partnership for the 21st Century, edited with Choong Yong Ahn, KEIP, Korea, 2012.
Tax Systems and Tax Reforms in South and East Asia, edited with L. Bernardi and A. Fraschini, Routledge, Oxford, 2006.
   
Tax System and the Development of a Single Tax System, Anniversary Lecture of the Central Bank of Sri Lanka, Centre for Banking Studies Occasional paper no. 43, 2002
   
India’s Fiscal Matters, Oxford University Press, New Delhi, 2002.
   
India and Economic Cooperation in South Asia (edited), Indian Council for Research on International Economic Relations (ICRIER),  New Delhi, 2002
   
Tax Policy and Tax Administration for the Tenth Plan, Report of The Advisory Group, Planning Commission, Government of India, New Delhi, 2001
   
Value Added Tax in India: A Progress Report(edited), Centax Publications Pvt. Ltd., New Delhi, May 1997.
   
Fiscal Policy, Public Policy & Governance, (edited), Centax Publications Pvt. Ltd., New Delhi, May 1997.
   
India: Tax Policy for the Ninth Five Year Plan (1997-98 to 2001-02), (edited), Centax Publications Pvt. Ltd., New Delhi, April 1997.
   
Fiscal Policy in the 1990s: Needed Reforms and Ramifications for the Financial Sector, Sir Purshotamdas Thakurdas Memorial Lecture, Indian Institute of Bankers, Mumbai, November 1996.
   
Visions of the Tax Systems of the XXIst Century, Proceedings of a Symposium at the 50th Congress of the International Fiscal Association, Geneva, August 1996.
   
Comprehensive Tax Reform: The Colombian Experience, Occasional Paper No. 123 (edited), International Monetary Fund, Washington, D.C., March 1995.
   
Tax Policy Handbook(edited), International Monetary Fund, Washington, D.C., 1995.
   
Fiscal Issues in South-East Asia: Comparative Studies(edited), Oxford University Press, Singapore, 1986.