India's pharmaceutical industry is the third-largest in terms of volume and the fourteenth-largest in terms of value, which makes it a key player in global healthcare. The sector has undergone a significant transformation driven by the COVID-19 pandemic, changing regulations, geopolitical factors, and technological advancements. Moreover, the Government has implemented several incentivising policies to encourage R&D investments. However, the sector faces several tax-related challenges, resulting in hurdles that may impact the industry’s progress.
At BDO in India, we understand the nuances of tax and regulatory-related challenges and the importance of adhering to the necessary compliances. To help businesses address the challenges faced by the phamaceutical industry and stay compliant, our team of tax experts with domain knowledge and backed by global industry experience provide comprehensive tax assistance to businesses operating in the industry.
Read our publication to know more about the Pharmaceutical Industry in India, the tax and regulatory challenges faced and solutions around these challenges to help businesses navigate the evolving landscape.