Why taxing global tech cos including Google, Facebook, Tiktok and Neflix is easier said than done!
The tax is on global companies that offer digital products and services to Indian residents. It comes into effect from April 1 after the government expanded the scope of the levy to all overseas e-commerce transactions originating from India in the amended Finance Bill that was passed by Parliament on Monday.
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India wants fair share of $100 billion global taxes from Google, Facebook
With a hope of getting larger chunk of $100 billion in global taxes to be paid by digital companies, India is pushing that number of users should determine taxes payable by digital majors in a country. The OECD under its Base Erosion and Profit Shifting initiative has come up with a number — $ 100 billion — in additional taxes digital majors need to pay globally.
137 countries on board for OECD digital tax plan: Angela Gurria
OECD chief Angela Gurria on Thursday said the international body's plan to help solve digital tax problems has got support of 137 countries and new rules must be put in place to stop evasion worth hundreds of billions of dollars.
New GST filing format, e-invoicing to help in ease of doing biz, reporting for taxes: GSTN CEO
The GSTN CEO said that in India, the aim is to make digitisation part of business process of taxpayers and eliminate all manual reporting.
Facebook's Zuckerberg wants 'new framework' for digital tax
Washington has slammed the move as discriminatory, but both sides agreed last month to pursue a global framework under the aegis of the Organisation for Economic Co-operation and Development (OECD), with Paris suspending its collection of the tax until December 2020.
PISA will benefit India: Oxford Education MD
India has recently announced that it will participate in the Programme for International Student Assessment (PISA) conducted by the Organisation for the Economic Co-operation and Development (OECD). After an abysmal performance in its only appearance in PISA in 2009, India stayed away from the test in 2012 and 2015.
Government weaves tax net for internet’s global biggies
India has introduced a system that will make an overseas platform that advertises to an Indian IP address taxable.
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Growth to pick up next year: OECD
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OECD says India needs to step up reform efforts to increase quality jobs, incomes
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View: Tax regime globally, as well as in India, is heading for some significant changes
The role of tax havens where servers can be located makes the task of a tax authority even more difficult. The debate on where MNCs should be taxed has grown interesting.
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