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Explainer: How the US-India truce on equalisation levy will benefit tech giants

The interim arrangement will give tech companies the ability to offset any excess digital tax paid against their future corporate tax liability in India

November 25, 2021 / 12:35 PM IST
Explainer: How the US-India truce on equalisation levy will benefit tech giants

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What India calls the equalization levy and the US calls a digital services tax had become a bone of contention between the two countries. India imposed this tax in a bid to raise revenues from digital transactions that were taking place in India but could not be taxed because the companies were not based in India. Successful lobbying by US tech giants, who were adversely affected by this move, saw the US threaten to impose retaliatory taxes on India. In...

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