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The Indian Equalization Levy, or so-called Google tax on digital economic companies on the coast, is expected to last more than 2023, as a global tax agreement would replace these individual countries at the time facing operational challenges, experts said.
The transformation of the 140-year-old global tax system, which includes the digital economy and the 15% global corporate tax system, looks set to last longer as negotiations continue for better digital economic tax, and a small tax proposal. the level of tax liability. The first plan was to introduce this change in 2023.
The EU’s acceptance of the low tax rate was questioned last week after Hungary said it would not support the current tax reform, as Poland has rejected its opposition, Reuters news agency reported last Friday in EU legal talks on tax reforms.
According to the first plan, the ‘two-pillar’ tax reform would be implemented in 2023, according to the Organization for Economic Co-operation and Development (OECD) last July.
Experts have indicated that in view of the challenges that have arisen in furtherance of the agreement, the Indian tax rating on services provided by Indian maritime technology officials will continue.
“One of the major implications of the delay in the introduction of an inclusive international framework (tax reform) is that international action will continue. India’s equity tax is one such tax, “said Neeru Ahuja, a partner of Deloitte India.
Ahuja explained that India, some of the EU nations — Austria, France, Italy and Spain — as well as the UK have joined the US in a roadmap for the abolition of corporate taxes when the integrated framework came into effect.
“That includes the abolition of US trade proposed sanctions and tax credit India and these EU countries will make it available in the first year of implementation in accordance with the agreed terms,” Ahuja said.
That understanding avoids any US trade sanctions that would otherwise be possible due to delays in the withdrawal of digital service taxes used by India and other EU countries for technology officials, especially US-based companies.
“Negotiations on the positive aspects of the first pillar, the digital economy tax system, are still ongoing. Until the international framework is implemented, there is no reason for India to waive its ratings tax, ”said Sudhir Kapadia, national tax official, EY.
An email sent to a spokesman for the Treasury on Monday seeking comment was not answered until press time.
India collects approximately R3,000-4,000 in annual estimates. The tax was introduced in 2016 in online advertising and was subsequently extended to address the sale of goods and the provision of services through online forums.
Receipts for Indian income from tax rights that will be provided under international tax reforms are expected to be below what New Delhi is currently collecting as estimates.
“Revenue from the levy on the basis of international agreements will be less than the national collective bargaining power. The tax authorities are aware of this, ”said a tax expert on condition of anonymity.
