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Global tech, trade bodies urge India to debate on equalisation levy

Global tech, trade bodies urge India to debate on equalisation levy

A group of global trade and technology industry associations have urged the Indian government to hold formal stakeholder consultations on amendments to the Equalisation Levy, which they fear would expand the scope of the tax and would adversely impact the ease of doing business.

The group of over a dozen global industry bodies including the Information Technology Industry Council (ITI) wrote to the chairman of the Parliamentary standing committee on Finance, Jayant Sinha urging the Parliament to drop amendments to the equalisation levy included in the budget for FY22. The amendment would create significant challenges for all businesses operating in India, further exacerbating the detrimental impact of a measure at odds with India’s ongoing commitment to the multilateral negotiations at the OECD/ G20 Inclusive Framework to address tax challenges arising from the digitalisation of the global economy, the industry associations said in the letter, which was seen by FE

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