The Indo-American Chamber of Commerce – Andhra Pradesh and Telangana (IACC AP & TS) recently organized a Knowledge Session on “US Tax Reform and Recent Wayfair Decision” in Visakhapatnam.
Giving the welcome addressMr.Vijaya Sai Meka, Vice Chairman, IACC AP & TS mentioned that IACC Chamber is very relevant for the Industry in Vizag as so much trade in IT, Pharma and Sea food is happening with US. He also informed the participants that the membership of IACC helps in networking with Industry at Global Level.
Mr. M. V. Narayan Rao, Chairman, Coastal Corridor Committee, IACC AP & TS shared the proposed future development activities of IACC for its members like seminars / workshops on how to increase Bi-lateral Trade, Visa policies and regulations, Education opportunities by Indo-US Collaboration etc.
He further mentioned that IACC plans on establishing a branch in Vizag to serve the companies who are working with US or those who have their offices or clients in US. IACC has also planned to help SMEs who are interested to trade with US he said.
The chief guest on the occasion Mr.Pydah Krishna Prasad, Chairman of AP Chamber of Commerce, Vizag chapter strongly advocated the need for IACC to have a chapter in Vizag to provide services to Trade and Industry.
He said that IACC should also contribute in youth development by organizing seminars on Entrepreneurship, leadership, practical experience of industry etc.
Senior members from the Business Advisory Group of KNAV Mr.Kartik Mehta, Senior Manager and Mr.ShishirLagu, Partner, KNAV and Mr.Kavit Sanghvi, Manager, KNAV gave detailed presentations on doing business in the US. They also shared insights on the guidance provided by the IRS on the TCJA as well as shared key practical considerations of the impact on inbound activities of Indian MNCs, outbound CFCs of US multinationals and the far-reaching consequences of the Wayfair decision.
Mr.GiriSomayajulu, Member, IACC proposed the vote of thanks to all dignitaries and speakers.