Adani Enterp. 2445.05↓-47.10(-1.89%)
Adani Ports 736.60↑4.55(0.62%)
Apollo Hospitals 4967.30↑153.05(3.18%)
Asian Paints 3237.25↓-3.45(-0.11%)
Axis Bank 926.10↑6.40(0.70%)
B P C L 360.05↓-4.50(-1.23%)
Bajaj Auto 4669.10↑25.50(0.55%)
Bajaj Finance 7023.90↓-16.60(-0.24%)
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Coal India 230.90↑0.55(0.24%)
Divi's Lab. 3511.60↓-13.80(-0.39%)
Dr Reddy's Labs 4610.45↑58.40(1.28%)
Eicher Motors 3699.40↓-16.65(-0.45%)
Grasim Inds 1710.55↑8.10(0.48%)
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HCL Technologies 1137.05↓-4.85(-0.42%)
HDFC Bank 1606.50↑2.50(0.16%)
HDFC Life Insur. 576.40↓-5.80(-1.00%)
Hero Motocorp 2892.65↑92.25(3.29%)
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IndusInd Bank 1288.20↓-1.95(-0.15%)
Infosys 1299.00↓-20.50(-1.55%)
ITC 443.40↑3.70(0.84%)
JSW Steel 706.60↑12.75(1.84%)
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Maruti Suzuki 9485.35↑157.05(1.68%)
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NTPC 174.55↑0.15(0.09%)
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Power Grid Corpn 234.60↑1.60(0.69%)
Reliance Industr 2455.20↓-8.05(-0.33%)
SBI Life Insuran 1202.50↓-5.25(-0.43%)
St Bk of India 587.20↑4.45(0.76%)
Sun Pharma.Inds. 999.60↑11.90(1.20%)
Tata Consumer 796.05↑2.40(0.30%)
Tata Motors 535.90↑0.70(0.13%)
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Titan Company 2861.65↑34.40(1.22%)
UltraTech Cem. 7850.65↑7.85(0.10%)
UPL 683.35↑5.40(0.80%)
Wipro 404.95↓-2.20(-0.54%)

With G24 backing, India to battle it out with US, UK to tax digital firms

The OECD report on the subject will be finalised in 2020. India has the backing of 28 countries of G24

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India has pitched for ‘significant economic presence’, arguing that permanent establishment should not only require a fixed place of business

4 min read Last Updated : May 30 2019 | 12:50 AM IST

India will press for widening the scope of permanent establishment (PE) to tax digital enterprises such as Google, Facebook, Microsoft, and Netflix at the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) Inclusive Framework meeting in June.

With G24 backing, it will fight it out with the US and the UK to push through its ‘significant economic presence’ proposal at the OECD, as 128 counties sit together to put in place a multilateral instrument to bring these companies into the tax net.

In its representation, India has pitched for ‘significant economic presence’ principle, arguing that PE should not only require a fixed place of business and that the definition of ‘nexus’ needs to be changed, to give more taxing rights to market-driven economies, or developing countries.