Digital Tax: India may oppose Biden govt move to tax only top 100 cos

The latest proposal by Washington, shared with 130 countries, aims to tax only those entities with a global revenue of $20 bn and is not limited to digital players

India is likely to oppose the United States’ proposal of only taxing top 100 global companies as part of the multilateral deal under the OECD Base Erosion and Profit Shifting (BEPS) framework and may press for a wider coverage of the digital tax proposal.

Around 130 countries that make up the Inclusive Framework are striving to arrive at a consensus based solution by mid of the year to tax digital entities that end up not paying taxes in countries from where they earn income as traditional taxation rules require a physical presence. This will also ensure that countries withdraw unilateral