Entry of Law Firms recent Tax judgments and reciprocity high on Clifford Chance Partner Stuart Pophams agenda SILF President blasts British lobby

The Telegraph reports that five members of the Cabinet, two ministers of State and more than 50 FTSE chief executives, leading business figures will be a part of Prime Minister David Cameron’s visit to India. The high-level delegation will also include Senior Partner of Clifford Chance Stuart Popham who will arrive in India to discuss the entry of UK Law firms and recent judgments regarding the taxation of profits for work done in India..The Telegraph reports that five members of the Cabinet, two ministers of State and more than 50 FTSE chief executives, leading business figures will be a part of Prime Minister David Cameron’s visit to India. The high-level delegation will also include Senior Partner of Clifford Chance Stuart Popham who will arrive in India to discuss the entry of UK Law firms and recent judgments regarding the taxation of profits for work done in India..CityUK reports that Members from the Law Society, Allen & Overy, Herbert Smith, HSBC, Lloyds Bank and PricewaterhouseCoopers attended the meeting at Clifford Chance in Canary Wharf to give their comments on issues relating to law, accountancy, banking and insurance in India..Apart from raising the issue of entry of foreign law firms, Stuart Popham will also discuss the repercussions of the Linklaters judgment regarding taxing UK law firms for work on India related projects. Clifford Chance is also fighting a tax related dispute with the Income tax department. CityUK said “A major concern was that all profits of UK-based law firms arising from Indian operations, irrespective of whether the work is done in India or not, will be taxed there.”.The other issue that was discussed during the briefing to Stuart Popham was the issue of reciprocity, where they will review the treatment of Indian firms in the UK..Law Minister Veerappa Moily, who met British Secretary of State for Justice, Kenneth Clarke, earlier this month, had ruled out early decision on the demand for access to India’s legal market. After the meeting Moily had said “On the opening up of the legal market, the Government would not impose a decision on the legal community in India”, adding “even Britain took long before opening up its legal sector to Americans. There were more than a million lawyers in the country and they had to carry them along.”.The Society of Indian Law Firms on Saturday slammed the government’s “revival of interest” on the issue of allowing the entry of foreign law firms into the country. In a strongly worded statement, the SILF president, Lalit Bhasin, said the fresh interest being shown by the government appeared to be a result of the “insurmountable pressure” being exerted by the British lobby..Hindustan Times spoke to Bhasin who said “Every month there are delegations from the United Kingdom visiting India with one point programme of getting legal services in India open up to the foreign law firms”. “The government, instead of supporting and protecting India’s legal profession, appears to be supportive of the moves by UK government,” the statement said..Bhasin also criticized the Government’s move to seek a transfer of the case related to entry of foreign law firms to the Supreme Court , which is being currently heard in the Madras High Court..“A case can be sought to be transferred to the Supreme Court if two or more High Courts are seized of the same issue of law,” Bhasin said. “Why should government of India take this initiative since it has not challenged the Bombay verdict, which has now become final”..Photo by Norbert Schiller, Copyright World Economic Forum.