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India wants fair share of $100 billion global taxes from Google, Facebook

India wants fair share of $100 billion global taxes from Google, Facebook

India is pushing for a major change at Organisation for Economic Cooperation and Development (OECD) on methodology at determining taxability in every jurisdiction hoping to tap a larger share of tax from multinationals such as Google, Facebook, Amazon and Netflix.

OECD recently said that income tax collections of major digital companies could go up by around $100 billion if new tax regulations are formed and adopted by all countries.

With a hope of getting larger chunk of $100 billion in global taxes to be paid by digital companies, India is pushing that number of users should determine taxes payable by digital majors in a country. The OECD under its Base Erosion and seks shop | seks shop | seks shop | seks shop Profit Shifting (BEPS) initiative has come up with a number — $ 100 billion — in additional taxes digital majors need to pay globally.


“There are companies generating billions of dollars in revenue from India but manage to pay abysmal amount in taxes. All we want is that these companies cough up what’s only India’s fair share,” said an official aware of the development. He added that the government has been pushing for this and would be submitting its proposals to the OECD soon.

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