Highlights
New Delhi said the postponement of tariffs is similar to the DST investigation on France.
Tai stated that the US is focused on finding a multilateral solution to a range of key issues related to international taxation.
New Delhi: The US on Wednesday announced tariffs on six countries, including India, that have imposed or are considering equalisation levy/digital services tax on e-commerce companies but immediately suspended the taxes for up to six months to provide additional time to complete the ongoing multilateral negotiations on international taxation at the OECD and G20.
United States Trade Representative (USTR) Katherine Tai, in a statement, announced the conclusion of the one-year Section 301 investigations of Digital Service Taxes (DSTs) adopted by Austria, India, Italy, Spain, Turkey and the UK.
Korea forcing Google, Netflix to pay digital tax
Posted : 2021-06-01 16:47
Updated : 2021-06-01 17:54 Jobseekers listen to a career planning instructor at a small job fair at Google Campus in Seoul, Aug. 10, 2017. Korea Times file
By Lee Kyung-min
The Korean offices of Netflix and Google will have to pay higher corporate taxes, upon the agreement of over 130 participants in the OECD blueprints drawn up to tackle global tax challenges.
Apart from the two firms, global IT giants including Amazon, Facebook and Apple will be subject to the so-called Google tax, whereby large digital companies will have to pay a certain amount of corporate tax, the rate of which is yet to be determined.
Climate activists are dismayed at the appointment of Mathias Cormann, who has had a history of blocking climate action. The former Australian finance minister will be hoping to assuage their concerns.
The Amazon ruling is a setback for European Competition Commissioner Margrethe Vestager, who has aggressively used the bloc's state aid rules to tackle sweetheart tax deals between multinationals and EU countries
India on Monday notified a revenue threshold of Rs 2 crore and a limit of 300,000 users for non-resident technology firms such as Google, Facebook, Netflix, to pay tax in India under new or revised bilateral tax pacts. This is part of the Significant Economic Presence (SEP) principle, which was introduced in the Finance Bill 2018-19, and which widened the scope of ‘business connection’ to include provision of download of data or software, if aggregate payments from such transactions exceed a prescribed amount, or if a multinational s interaction is with a prescribed number of users. “…the amount of aggregate of payments arising from transaction, or transactions of goods, services or property carried out by a non-resident, with any person in India…including download of data or software in India during the previous year, shall be Rs 2 crore…the number of users with whom systematic and continuous business activities are solicited or who are engaged in interaction shall