Thursday, November 26, 2020
Home Business News Government hopes Biden reviews e-tax policy - Times of India

Government hopes Biden reviews e-tax policy – Times of India

NEW DELHI: The government expects the Joe Biden administration to review Donald Trump’s stance on countering India’s digital service tax, which is levied on companies such as Google and Netflix.
“They may not be able to do it by January 20 and we expect things to change after that,” said a government source. Companies hit by the levies have been lobbying in Washington, DC for retaliatory action against countries ranging from Austria to India and France.
An agency report said the US will soon issue the results of probes into Austria, Italy and India’s decisions to tax local revenue of internet companies such as Facebook, which could pave the way for retaliatory tariffs, people familiar with the situation said.
Determinations on the three countries are due because all of them have instituted the so-called digital services taxes — or levies on local sales of companies such as Alphabet’s Google — this year, said the people who couldn’t be identified because the information is private.
There may also be findings on Indonesia, the UK and Turkey, one of the people said. The US Trade Representative in June started investigations into the moves of at least 10 countries, citing section 301 of the US Trade Act of 1974, which allows it to retaliate for trade practices it deems unfair. It’s the same tool used to justify US tariffs on Chinese goods for alleged theft of intellectual property.

Source link

In this blog our main motive is to provide you all kind of latest information about technology, politics, sports, and health. If you want to read this information then you should have to visit our website. This information will help you to increase your knowledge.


Please enter your comment!
Please enter your name here

Most Popular

IT Ministry partners with IBM to equip youth with future-ready skills – Times of India

NEW DELHI: IBM India on Thursday said it has collaborated with the Union Ministry of Electronics and Information Technology (MeitY) to create a...

Turkish court jails 27 for life over 2016 coup attempt – Times of India

ANKARA: A Turkish court jailed 27 former pilots and other suspects for life in one of the largest trials stemming from the bloody...

Pandemic postpones math, reading tests in US until 2022 – Times of India

COLUMBUS: National reading and math tests long used to track what US students know in those subjects are being postponed from next year...

Indian economy exhibited stronger pick up than expected: RBI governor – Times of India

MUMBAI: Indian economy has exhibited stronger pick up in momentum of recovery than expected, said Reserve Bank of India governor Shaktikanta Das on...

Recent Comments