India seeks changes in digital taxation proposed by global body

The government has said the digital taxation proposed by Organisation for Economic Cooperation and Development will cause India to lose out on its share of taxes

by exchange4media Staff
Published - Nov 6, 2019 9:22 AM Updated: Nov 6, 2019 9:46 AM
digital

The Indian government has said that the digital taxation proposed by the Organisation for Economic Cooperation and Development (OECD) would lead the country to lose out on taxes from companies like Google, Facebook, Uber and Netflix.

These multi-nationals are said to big contributors to the tax revenues.

The government has called for a “more balanced principle for the taxation” and presented its concerns to OECD.

The body will be taking up suggestions later this month.

As per OECD’s proposed formulation, India will get little revenue despite these companies having a significant digital and business presence.

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