Uniform accounting and tax regulations worldwide could greatly limit the ability of multinational corporations to engage in jurisdictional maneuvering. However, this remains an elusive goal, according to Chartered Accountant S. Murlidharan, who elaborates on India’s recent updates to the Companies (Accounting Standards) Rules.
On March 10, 2026, the Ministry of Corporate Affairs published a notification that introduced the Companies (Accounting Standards) Amendment Rules 2026, amending Accounting Standards 22 (AS 22) to align with the Organisation for Economic Co-operation and Development (OECD) framework. This amendment took effect on April 1, 2026.
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