Global tax, local complexities: What G7 corporate tax deal means for India

The recent G7 proposal of a global minimum tax has mixed implications for Indian corporations, foreign majors operating here and the tax authorities

The global minimum corporation tax of 15 per cent suggested by the G7 nations at the summit of their finance ministers last weekend, could make life more taxing for some large Indian IT companies. The tax could, for instance, cost TCS, India’s largest IT services company, more under the new tax treatment, but Infosys may just about get away because it still does not rank among the top 100 digital multinationals by size. 

Indian conglomerates such as Airtel and Tata group with substantial investments abroad may not be able to retain the benefits of their tax shelters abroad because, under