Digital Tax on internet giants like Google, Facebook, Amazon, Uber etc comes with its own share of risks and can have real consequences, said a senior tax official at the Organisation for Economic Co-operation and Development, pointing to the investigations initiated by the US against such step.“Such unilateral measures come with risks and can have real consequences as seen from the initiation by the US of 301 trade violation investigations against 10 countries, including India, and the EU,” Grace Perez-Navaroo, Deputy Director at the Centre for Tax Policy and Administration at the OECD, told ETCFO in an exclusive conversation. Such unilateral measures, she added, don’t necessarily hamper progress at the OECD arguing most countries that have implemented them have said that they will remove them once a global, consensus-based solution is found.India, beginning this financial year, introduced the 2 per cent equalisation levy or so called its own version of Google Tax on … [Read more...] about Digital Tax: OECD says Indian ‘equalisation levy’ comes with risks, can have real consequences
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The US is home to large tech majors who have spread their tentacles across the globe. Yet, it has led to discontent amongst countries where they operate but are not taxable. India is treading where France has failed, in trying to bring Google, Amazon and other e-commerce majors under the tax net with an Equalisation Levy. While India says that it provides a large number of users, others call it double taxation. In the midst of the discussion, the US launched an investigation against the move. Here is what Amit Maheshwari of AKM Global tells Amol Dethe about the case for its tax, it’s effects and the many tricks the US has, up its sleeve. Edited Excerpts... Q: The USA started an investigation against the Equalisation Levy that India has imposed in 2016. Can you give us an idea why? Amit Maheshwari: The US launched a formal investigation into the ‘Equalization Levy 2.0’ which is basically the new two per cent levy on non-resident e-commerce operators. This was passed … [Read more...] about Can the millions of tech users help India tax Amazon and Google?
Besides, investment promotion activities would be carried out to attract quality, large, hi-tech and innovative projects, which could create spill over and favourable conditions for Vietnamese firms to participate in the value chain, increase added value and improve human resource quality. … [Read more...] about Working group founded to promote foreign investment