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Foreign broadcasters to be taxed at 48%

07-March-2001
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Foreign broadcasters to be taxed at 48%

The Government said on Tuesday there was no clarification required over taxing foreign broadcasters, who would be treated just like any other multinational company operating in India and taxed at the rate of 48 per cent. There were doubts raised by industry as to how to treat income of foreign broadcasters earned in another country through sponsorships.

The government would go through the books of accounts and tax the companies according to their income. Currently, domestic broadcasters have to pay a higher tax rate than their foreign counterparts.

The companies that are likely to take a hit in their margins include channels like Star, ESPN and HBO, after the imposition of the high tax rate.

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