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EQUALISATION LEVY WITHDRAWAL
Finance Bill seeks to provide tax certainty, boost ease of Business: FM Nirmala SitharamanFinance Minister Nirmala Sitharaman said the finance bill aims to provide tax certainty and improve the ease of doing business. The withdra...- Google tax to go; fintechs' new industry bodyIndia will do away with the Google tax to appease Donald Trump as reciprocal tariffs loom. This and more in today’s ETtech Top 5.
- Focus is on creating jobs, giving a lift to small biz & middle class: Nirmala SitharamanTarget set Finance Minister, who presented her 7th budget in a row, talks about what government seeks to achieve.
- Tax experts welcome scrapping 2% equalisation levy on foreign digital service providersSome, however, say it could hurt Indian companies offering services such as online travel bookings. The tax aimed at providing a level play...
- Govt withdraws equalisation levy of 2%: FM Nirmala Sitharaman in Budget speechThe government raised the deduction limit to 14 per cent from 10 per cent for employers' contribution for the National Pension System (NPS).
- Big Tech firms play it safe, await clarity before adjusting India taxesIndia has said it will allow US multinationals to reduce tax liability to the tune of 2% equalisation levy paid in India
- Alphabet, Meta paid Rs 1,254 crore as levy in FY21India collected a total of Rs 2,057 crore in equalization levy last fiscal, up 85%.
- Equalisation levy on Facebook, Amazon, Google may go only in 2-3 yearsIndia gets about Rs 4,000 crore through equalisation levy on multinational tech firms like Facebook, Amazon, Apple, Google and Netflix, but...
- Cracks emerge in global deal on taxing tech giantsThe framework, which India is also seeking to adopt, was aimed at global tech giants that large economies think are escaping taxes.
- India to strive for higher share of MNC digital taxIndia on Friday joined 130 countries in the G20-OECD inclusive framework to reform international tax rules to create a new global tax regim...
- US announces, then suspends punitive tariff over DST on India, othersThe USTR said the goods that would face the punitive tariffs had an estimated trade value of about $119 million in 2019. The UK, Italy, Spa...
- Will study retaliatory tariffs proposed by US Trade Representative: OfficialsExperts said India can raise a dispute at the World Trade Organization (WTO) if the US imposes any such tariffs, and draw up its own list o...
- No equalisation levy if services, goods provided via Indian entitySitharaman said the tax exemption for the National Bank for Financing Infrastructure and Development (NaBFID) was necessary since building ...
- Taxing Google, Amazon: India’s equalization levy suffers from ambiguities on applicabilityThe first instalment of EL 2.0 was due on 7 July 2020. The stakeholders expected the government to defer the levy for some time, considerin...
- Big tech takes equalisation levy row to US govtA group of seven top industry associations representing internet and technology giants such as Google, Facebook, Amazon, Microsoft and Adob...
- Allow LTCG relief on stocks held for 3 years, brokers urge FMStakeholders request finance ministry to withdraw dividend distribution tax
- Tax dispute resolution scheme to take effect from tomorrowThe scheme provides an opportunity for settlement of cases emanating from retrospective amendment of tax laws, by asking companies to pay t...
- Proposed 6% equalisation levy will harm startups: IAMAI"The tech startups are already paying 14.5% service tax to use these ad platforms which amounts to an estimated Rs 906 crores of taxes to t...
- Equalisation levy will hurt Indian tech startups: IAMAIIAMAI said this provision of the Finance Bill has its genesis on a consultation paper by the Central Board of Direct Taxes (CBDT).
- Peace meet on APM on MondayNEW DELHI: THE differences between the finance and petroleum ministries on the dismantling of APM have zeroed in on three main issues.
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