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Big US tech firms plan to seek deferment of new Indian digital tax
- Wednesday | 1st April, 2020
NEW DELHI (Reuters) – Big US tech firms such as Google and Facebook plan to seek deferment of a new Indian digital tax, which has caught them off-guard as businesses battle the fallout from the coronavirus pandemic, three industry sources told Reuters. 1, all foreign billings for digital services provided in the country would attract a 2% tax. Foreign billings are where companies take payment abroad for a service provided to customers in India. In the current downturn, the focus is on protecting the business hit due to coronavirus,” said the source who works for a global technology company and described the tax as a “big, big headache”. The new tax was inserted in the 2020-21 budget amendments passed last week, giving companies only a few days to prepare.
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