Ramesh KhaitanSr Vice President -Direct Tax Head at LUPIN LIMITED
B. Com (Hons) from with distinction, L.L.B., Company Secretary ( Final 1st & 2nd Group) and Advocate
- Winner of the prestigious International Tax Review (“ITR”) Asia Pacific In-house Tax Director of the year Award 2020
- Winner of the prestigious International Tax Review (“ITR”) Asia Pacific In- house Transfer Pricing Director and Transfer Pricing Team of the year Awards 2021
Other professional interests
On Direct Taxation Committee of Indian Merchant Chamber of Commerce, Mumbai, Taxation Committee of FICCI on pharma and life sciences, Taxation Committee of CII and IFA India
Regular speaker in various tax seminars organized by ICA, Taxsutra, Merchant Chamber of Commerce, IFA India, International Tax Review (ITR), KNect365 and Others
Contributes tax articles on various subjects on regular basis to Taxsutra and other portals
Attended various domestic and international tax seminars organized by IFA, Taxsutra, Deloitte, PWC and EY – both as participant and panelist
Current job profile: Sr. Vice President – Taxation (Global Tax Head)
Lupin Limited (one of the top 5 pharmaceutical companies in India) having distribution and marketing subsidiaries in Dubai, Indonesia, Manchester (UK), Cape Town (South Africa), Sydney (Australia), Baltimore & New Jersey (USA – Manufacturing, Distribution and Marketing, Research and Management companies), Germany and Philippines (Trading and Distribution Cos), Brazil, Mexico and Japan (Manufacturing Cos), Canada (Distribution co), Moscow (Distribution Co), Zug, Switzerland (IP owner, intermediate holding company and contract manufacturing company), Amsterdam, Netherlands (Research and Intermediate holding companies), etc.,
Global Tax Head of Lupin Limited (a transnational pharmaceutical company with sales volume of approximately USD$2.56 billion) supervising a team of 13 professionals including 2 in overseas. In this capacity, I have overall responsibility for the following functions:
- Significant tax planning experience with the set-up and operation of offshore principal company structure to own and exploit drug rights for US market where structure makes use of third-party contract manufacturing and inter-company sales and services, as applicable, demerger and amalgamation, slump sale, etc.
- Transfer of Japan assets with substantial tax savings
- Business restructuring of Swiss IPs and set off of loss on account of impairment on US investments .
- Tax risk assessment and compliances under the Indian Income tax Act, Wealth tax Act, Fringe Benefit Tax, Indian Transfer Pricing Regulations including filing of Income tax return, Transfer Pricing reports.
- Tax management and tax optimisation of Group ETR from 60% to expected 26.72% through restructuring of supply chain and IP restructuring in an tax efficient manner;
- IP Structuring through captive research service provider satisfying DEMPE and POEM functions.
- Review of tax returns in various jurisdictions, handle global preparation of TP documentation, master file, CbCR, etc.
- Tax assessments / tax audits including Transfer Pricing audits.
- Appearance before various Appellate Authorities (for example, Commissioner of Income tax (Appeals), DRP, Income Tax Appellate Tribunal and High Court)
- Tax planning for cross border transactions namely, overseas acquisitions (stock and asset deals vs. share acquisition), IPs and trademarks / brands acquisitions, Permanent Establishment (PE) related issues, contract / toll manufacturing in a foreign jurisdiction, foreign remittances for royalties, fees for technical services (FTS), commission, software licensing, taxation of expatriates, etc.,
Addressed issues arising out of POEM (Place of Effective Management) and Indian GAAR through merger of two Dutch entities.
- Substantial exposure on OECD BEPS Actions 8-10 and 13
- Search and seizure matters in February 2000 and March 2012