AMSTERDAM, THE NETHERLANDS--(Marketwired - July 21, 2016) - G-20 member and BRICS country India has seen an average economic growth rate of approximately 7% over the last two decades. Private consumption growth accelerated in the first half of this year to 8%. The Indian government is investing more in the economy and has recently eased foreign direct investment restrictions in several sectors to increase inflows. As a direct result of these developments, the demand for tax professionals will rise and tax control management will be pushed up corporate agendas. This is the impetus for IBFD and FIT, both forces to be reckoned with in the international taxation arena, to join their strengths and become an even stronger institution that better meets the increasing need for cross-border taxation knowledge and expertise.
The alliance will be effective immediately and will become visible at their first joined International Taxation Conference, which will be held from 1-3 December in Mumbai.
The 2015 conference was devoted to giving an overview of the G-20/OECD Base Erosion and Profit Shifting (BEPS) project and its Action Plans. For this year's conference, a number of the BEPS Action Points have been selected for discussion and debate by academics, corporate representatives, revenue officials, tax practitioners and taxpayers.
Also effective immediately is the appointment of IBFD's Executive Board members Victor van Kommer, Pasquale Pistone and Belema Obuoforibo to FIT's Advisory Committee. "We are excited about this collaboration between two institutions renowned for their rich expertise in international tax. We look forward to many years of fruitful cooperation," says IBFD's Executive Board member and Director of the Knowledge Centre Belema Obuoforibo.
The appointment demonstrates the two institutions' mutual commitment and investment, and it enables synergy between the organizations and their conferences. "FIT is the perfect partner for IBFD, as our shared mission is to promote and disseminate the understanding of cross-border taxation. I am confident that our partnership will foster the dialogue on cross-border taxation in India at the highest level and to an even broader audience," says IBFD's Executive Board member and Publishing Director Maarten Goudsmit.
IBFD is a leading international provider of cross-border tax expertise, with a long-standing history of supporting and contributing to tax research and academic activities. As an independent foundation, IBFD utilizes its global network of tax experts and Knowledge Centre to serve Fortune 500 companies, governments, international consultancy firms and tax advisors. Headquartered in Amsterdam, IBFD has regional offices in Beijing, Washington and Kuala Lumpur. IBFD's Library and Information Centre is widely regarded as the world's leading research facility in the field of international and comparative taxation.
Renowned as the expertise portal in the field of cross-border taxation and legislation, IBFD's powerful Tax Research Platform allows tax practitioners around the world to access a wealth of reliable and valuable content, enabling faster and more effective work.
IBFD's complete coverage further includes courses, journals and books, and a Master's in International Tax Law (in collaboration with the University of Amsterdam). IBFD also offers government consultancy and individual client research services.