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Over the years, SKP has assisted over 1,200 clients from over 45 countries in doing business in India and abroad. Our clients include Fortune 500 companies, multinational corporations, entities listed on global exchanges, private equity/venture capital–owned companies and family-owned businesses. Here are a few examples of our work where we've helped our clients in dealing with the various complexities of doing business in India and abroad.

Tax advisory for a leading dredging services company

Engagement: SKP was engaged by a world leader in dredging and related services based in Belgium for tax advisory for its Indian project valued at USD 75 million.

Solution
SKP was engaged with the objective of minimising taxes in India and for the group as a whole. We studied the background extensively and assisted in interposing a company in Mauritius along with subcontracting part of the dredging work.

We adopted a unique approach of vetting the source vendor document in Belgium and the charge made to the Indian Project Office (PO), stating that it was a cost reimbursement and hence not taxable in the hands of the foreign company. As a result, the Indian PO could claim these expenses as a tax deduction reducing the overall profits of the PO in India.

We provided continued support and advice on various tax issues during the execution of the project, such as Belgian and Indian accounting issues on foreign currency translations that would have an impact on taxation in Belgium and India.

Value Delivered
This resulted in huge tax savings of 40% on the USD 75 million project as well as no further taxation in Belgium.