Apart from Google, this social network site will be Taxed in India

Jun 06 2019 02:24 PM
Apart from Google, this social network site will be Taxed in India

India is now preparing to make a profit through foreign digital companies. This time a profit can be curbed by big digital companies like Google, Facebook, Netflix. On June 8-9, there is a G20 summit in Japan, which will offer a tax on the Indian side to levy taxes on these companies. Which is also being applied to the proposal.

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It has already proved beneficial for India to make a profit by putting up a tax formula. In 2016, India had slapped a 6 percent tax on foreign-made digital companies in the country, after which the government earned more than Rs 1000 crore through this tax in 2018-19.

According to media reports, foreign Internet companies operate from low-tax justice sectors, while their trade continues to spread to many other places, benefiting millions of them. When an Indian customer uses their facilities or gives advertisements to these companies, it is also directly beneficial to those companies. Nevertheless, they do not have to pay taxes in India, because they do not exist here. The tax is saved by companies on local earnings from here in the ACE. Instead, if an Indian company had traded in its own country, it would have to pay a tax of millions of crores. In countries where these companies have users, if they are taxed, the company's total profit will be of great benefit to the government. India will offer to levy more taxes on these foreign digital companies this time after 2016 based on their economic presence.

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