The Khoja Community in India witnessed a proud moment as Mumbai-based Khoja Chartered Accountant Br. Hasnain Shroff, Partner at BSR & Co LLP (KPMG member firm in India), has been ranked in the prestigious list of highly regarded Tax Controversy Leaders in India by the International Tax Review (ITR). The list features several widely recognized and highly experienced professionals worldwide.
Who is Br. Hasnain Shroff?
Br. Hasnain Shroff, a resident of Mumbai, India, is a distinguished Chartered Accountant with a remarkable professional background. In addition to his CA qualification, he holds a doctorate in Transfer Pricing and boasts an impressive 25 years of professional experience. Br. Hasnain Shroff is recognized as one of the top Transfer Pricing professionals in the country and currently serves as a senior partner in the Firm.
What is Transfer Pricing?
Over the last few decades, many countries have introduced Transfer Pricing Regulations to protect the tax base of the country. These transfer pricing regulations require every multinational enterprise to transact cross-border transactions within their group entities at market price (known as ‘Arm’s Length Price’). There have been significant disputes across the world between the tax authorities and Multinational National Enterprises (MNEs) regarding the computation of Arm’s Length Price/ Market price. This would generally result in significant & large amounts of additional tax payable by the MNE group.
Earning accolades in the Professional field
Br. Hasnain is very well known in professional circles and is regularly invited by leading professional forums as a guest speaker on technical topics on transfer pricing regulations. He has been a frequent speaker at both Indian and international webinars conducted by his firm and has authored many articles published in leading professional journals. He has collaborated with the member firms of KPMG and played a pivotal role in establishing Transfer Pricing practice firms across the Middle East and South Asia region (MESA).
Br. Hasnain has conducted workshops for Tax authorities in India and other countries and has been instrumental in concluding several Advance Pricing Agreements with the Indian Government for various MNCs. He was invited by the Egypt revenue secretary to conduct a workshop for his senior commissioners and coach them on Transfer Pricing regulations. He was also invited for several years by Sri Lanka Revenue authorities to conduct a coaching workshop for its commissioners.
Continuous learning and exploring new opportunities
Over the decades, Mr. Hasnain has accumulated diverse work experience. Before joining his current firm, he was associated with numerous prominent professional firms. His entrepreneur genre has helped him to take up new challenges, step out of his comfort zone and play several independent roles. He had a short stint in Australia to set up an Indian business practice for his firm. Thereafter, he took up the challenge of establishing a tax practice in Pune, India. For the last several years, he has led their TP Center of Excellence and Transfer Pricing Practice in the western region. Recently, he has been inducted into the Governance Board of his organisation.
Giving back to the Community
Br. Hasnain firmly believes in giving back to society and the community. He has played several voluntary roles in society and has mentored youths from our community. His extended family are well-known within the Mumbai Khoja community and have all been active in community and social service.
He has been a role model for the younger generation, demonstrating that it is indeed possible to attain professional expertise while simultaneously upholding community culture and values. As the Khojas and Muslims in general celebrate Br. Hasnain’s achievements, it is important to be reminded of the power of leadership, hard work and the great potential the community holds. His story serves as a valuable lesson, highlighting that anyone can create a lasting impact and inspire communities and younger generations with dedication, resilience, and an unwavering commitment to one’s vision.
The accolades and respect Br. Hasnain has achieved being a Khoja, proves that our community members contribute significantly to society by producing cutting-edge international professionals.
The Khoja News Team congratulates Br. Hasnain Shroff on his outstanding accomplishments. We wish him the best and pray to Allah (swt) to grant him success in all his endeavours, Ameen.